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From the Sensex pack, UltraTech Cement and M&M were the top gainers, rising over 2% each. HDFC, HDFC Bank, Tata Motors, SBI, Wipro and Tata Steel also opened higher. On the flip side, Power Grid, Asian Paints, Axis Bank, Maruti, Tech Mahindra, and Sun Pharma opened in the red.

Indian stock indices, S&P BSE Sensex and Nifty50, reached new all-time highs on Friday, closing with gains. The Sensex rose by 803 points or 1.26% to 64,719, while the Nifty50 climbed 217 points or 1.14% to 19,189. The Nifty Bank also saw gains of nearly 1%. The positive performance was attributed to global data, strong foreign institutional investor (FII) buying, and progress in monsoon. The auto sector is expected to be in focus due to monthly sales data releases, and economic data locally and globally will influence market movements.

“The GHCL shareholders wanted change. The stock price has been range-bound while the market has surged. From that perspective, especially in the last one or two years, shareholders were angry and they wanted change.So it was not unexpected.”

The Indian rupee strengthened against the US dollar, reaching 81.77 in early trading, supported by foreign fund inflows and a bullish domestic stock market. The rupee is trading positively due to significant foreign investments and positive economic indicators. Experts predict that the rupee will trade between 81.90 and 82.20 throughout the day. Foreign Portfolio Investors have invested INR 47,148 crore ($6.3 billion) in Indian equities in June, the highest inflow in 10 months. Additionally, GST collections in June exceeded INR 1.60 lakh crore ($21.3 billion).

Maruti Suzuki India, incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 292434.64 Crore) operating in Auto sector.

Indian equity indices are trading at fresh all-time high levels. Amid this backdrop, a host of analysts have shared their tech views on particular stocks that can rally up to 10% in the short term.

As of 31-Mar-2023, promoters held 25.54 per cent stake in the company, while FIIs held 39.74 per cent and domestic institutional investors had 11.53 per cent.

“Post Q4 numbers, most of the auto stocks have rallied 10-15% and we continue to remain bullish on stocks like Tata Motors with its combination of elctrical vehicles (EVs) plus passenger vehicles and commercial vehicles. In commercial vehicles, a revival is coming back and Ashok Leyland remains a top bet.”

The stock quoted a 52-week high price of Rs 608.65 and a 52-week low of Rs 380.95.

The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock.