Stock market continues to be volatile

The stock market closed without much gain on August 5. The stock market, which had bounced back after four continuous days of crash, but could not sustain it on August 5. The 50-share Sensex was down 24 points, while the 30-share Nifty was up 6 points.

The Sensex closed at 37,663 points on the day. The Sensex, which had touched a high of 38,139.96 in the morning, fell by 500 points since. Similarly, National Stock Exchange index Nifty closed at 11,120, up 11,225.65 points.

Hindalco, Tata Steel, Acer Motors, Adani Ports and Tata Motors were the top five gainers in the Nifty. Metal and auto stocks were the main gainers on the day. Leading metal stocks Hindalco and Tata Steel gained 8.65 per cent and 6.66 per cent, respectively. The Nifty Metal Index was up 4.22%. Hindalco was up more than 100 per cent from its four-month low.

The Nifty Auto Index rose 2.12 per cent on the day. Acer Motors was up 4.37 per cent and Tata Motors 3.63 per cent. Auto companies had the best sales in July.

In July, there was an unexpected surge in passenger vehicle sales. Vehicle sales were on the rise as the lockdown was withdrawn in stages. Car sales in July were almost the same as in July last year.

A total of 1.97 lakh cars were sold in July. Sales were down just one per cent from July last year. Some companies had better sales than they had in July last year. This is an increase of 69 per cent over the same month last year. This increase was also reflected in the stock market performance of auto companies.

UPL, HDFC Life, PowerGrid, HDFC Bank and Wipro are the top five losers in the Nifty.