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After opening the day flat, Indian share markets extended gains as the session progressed and ended near the day's high.

Benchmark indices spiked in the afternoon session after economic growth of 7.8% in the three months ended June, the highest in the past four quarters, helped lift sentiment.

The growth marked a material lift from 6.1% in the preceding quarter. Reports suggested the momentum in capital expenditure seems to have continued in the second quarter.

Strong global cues also supported as most Asian markets ended in green.

At the closing bell, the BSE Sensex stood higher by 556 points (up 0.9%).

Meanwhile, the NSE Nifty closed higher by 182 points (up 0.9%).

NTPC, JSW Steel, and Maruti were among the top gainers today.

UltraTech Cement, Nestle, and L&T, on the other hand, were among the top losers today.

The GIFT Nifty was trading at 19,511, up by 82 points, at the time of writing.

The BSE MidCap index gained 0.8% while the BSE SmallCap index advanced 0.7%.

Barring healthcare stocks, all sectoral indices ended in green with stocks in the power sector, metal sector, and telecom sector witnessing most of the buying.

Shares of Cera Sanitaryware, Lakshmi Machine, and Linde India hit their respective 52-week highs today.

Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments...

Asian share markets ended higher as China rolled out more stimulus to aid its ailing economy.

The Shanghai Composite gained 0.4% while the Nikkei rose 0.3%.

Crypto markets were lower as Bitcoin fell 5% to around US$25,998.

The rupee is trading at 82.71 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.2% at Rs 59,500 per 10 grams.
 

Why Atul Auto Share Price is Rising

In news from the automobile sector, shares of smallcap auto company Atul Auto surged today after it announced good growth in total vehicle sales till the period ended August 2023. It reported a 34% growth YoY.

As per its BSE filing, sales surged 34% to 2,610 units (2023-24) as against 1,950 units a year ago.

In the past month, Atul Auto's share price has rallied 63%.

On a YTD basis, the stock is up 108% in 2023 so far and in the past year, shares are up 214%.

The stock has a 52-week high of Rs 627 touched on 31 August 2023 and a 52-week low of Rs 180 touched on 29 September 2022.

According to recent insider trades & SAST data, Vijay Kedia bought 430,000 shares of Atul Auto on 31 August 2023.

Note that sentiment around the stock has improved ever since its management gave good guidance and said the company should return to strong profitability by the end of the next fiscal.

Vijay Kedia believes that with all the work the company has put into launching an electric 3-wheeler, Atul Auto can very well be crowned the Tesla of this space.

Atul Auto is carrying out its EV operations through its subsidiary - Atul Greentech.

Apart from passenger and cargo vehicles, the company is also in the process of opening a swappable battery for which it has a tie-up with Honda.

The company is now looking to get back to pre-Covid levels when they used to sell around 4,000 vehicles.

It remains to be seen how the company performs in the current quarter.
 

India Set for First Solar Mission

The Indian Space Research Organisation (ISRO) is all set for India's maiden solar mission, Aditya-L1, which is scheduled to be launched on 2 September 2023.

Aditya-L1 is India's first solar space observatory and will be launched by the PSLV-C57 from the Sriharikota launch pad with launch rehearsal and vehicle internal checks all being completed.

Major objectives of India's solar mission include the study of the physics of solar corona and its heating mechanism, the solar wind acceleration, coupling and dynamics of the solar atmosphere, solar wind distribution and temperature anisotropy, and origin of Coronal Mass Ejections (CME) and flares and near-earth space weather.

Chandrayaan-3 is the ISRO's follow-up attempt after the Chandrayaan-2 mission faced challenges during its soft landing on the lunar surface in 2019 and was eventually deemed to have failed its core mission objectives.
 

Why Maruti Suzuki Share Price is Rising

The country's largest automaker Maruti Suzuki on Friday announced that it recorded its highest ever monthly sales in August 2023.

The auto major's total sales grew by 14% in August 2023 and stood at 1,89,082 units as compared to 1,65,173 units in August 2022.

Total Domestic Passenger Vehicle Sales in August also witnessed an uptick of 16% and stood at 1,56,114 units in August 2023 as against 1,34,166 units for the same period last year.

For the quarter ended June 2023, Maruti's net profit surged more than 2-fold year-on-year (YoY) to Rs 24.9 bn.

In the past five days, shares of the company have gained more than 9%.

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