Sensex adds 462 points; Nifty tad below 15,700; auto, banks gain; IT slips

Benchmark indices traded within a narrow range on Friday seeking support from firm global cues. The S&P BSE Sensex closed 462 points, or 0.88 per cent, higher at 52,728. The Nifty50, meanwhile, ended at 15,699, up 143 points or 0.92 per cent.

Auto, banking, and FMCG stocks took the centre stage today as easing commodity prices eased input cost and credit off-take pressures. M&M, IndusInd Bank, Bajaj Finance, Hero MotoCorp, HUL, ICICI Bank, Britannia Industries, ONGC, Shree Cement, JSW Steel, Eicher Motors, Tata Consumer Products, Hindalco, and HDFC Bank rose between 1.5 per cent and 4.4 per cent to settle as top Nifty gainers.

On the downside, Tech M, Infosys, Apollo Hospitals, TCS, NTPC, HCL Tech, and Coal India ended as top laggards.

Meanwhile, in the broader market, the Nifty MidCap and SmallCap indices advanced 1.4 per cent and 1.76 per cent, respectively.

Shares of Thomas Cook soared 8% on buzz of promoter raising stake. The promoter group has reportedly bought 2.81 crore shares of the company via open market.

Shares of Mahindra & Mahindra (M&M) surged to a new record high on the hopes of a strong demand. Hero MotoCorp, TVS Motor, Ashok Leyland also logged smart gains.

Shares of Hero MotoCorp rallied 4% as the company announced a price hike from July 1. The company said the price revision has been necessitated to partially offset the steadily growing overall cost inflation, including commodity prices.

Route Mobile shares rebounded 23% from an 18-month low as the board mulls buyback plan. The company said that the board was scheduled to meet on Tuesday, June 28, 2022, to consider a proposal for buyback of fully paid up equity shares of the company.

DCM Shriram shares rose 2% as the company decided to invest in renewable energy project.

Here are some picks from the week gone by.