Indian shares rise as auto stocks gain on solid July sales data

BENGALURU (Reuters) – Indian shares rose on Monday, helped by auto stocks as monthly data showed recovery in July sales after a second wave of COVID-19 cases had dented demand

By 0345 GMT, the blue-chip NSE Nifty 50 index climbed 0.5% to 15,845 and the benchmark S&P BSE Sensex rose 0.60% to 52,901.28. Both the indexes posted their third straight monthly gains in July.

India’s top car maker Maruti Ltd on Sunday reported 50% jump in July sales, compared with a year ago, while Jaguar Land Rover parent Tata Motors Ltd posted a 92% surge in total domestic sales.

Bajaj Auto Ltd on Monday said its July sales jumped 44% against a year ago.

The Nifty auto index rose 1%, led by a 1.6% gain each in Maruti and Tata Motors.

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