Benchmark indices traded sideways with decent gains near the day's high in mid morning trade. The undertone of the market was bullish after GST collection for July crossed Rs 1 lakh crore mark. The Nifty traded above the 15,850 level. All sectoral indices on the NSE traded in the green with realty, auto and FMCG leading the way.

At 11:27 IST, the barometer index, the S&P BSE Sensex, was up 358.98 points or 0.68% at 52,945.52. The Nifty 50 index surged 111 points or 0.7% at 15,874.05.

The broader market traded with strong gains. The S&P BSE Mid-Cap index was up 0.98% while the S&P BSE Small-Cap index gained 1.03%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 2182 shares rose and 931 shares fell. A total of 174 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 198,283,776 with 4,224,015 global deaths.

India reported 413,718 active cases of COVID-19 infection and 424,773 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.

Economy:

The gross GST revenue collected in the month of July 2021 stood at Rs 1,16,393 crore of which CGST was Rs 22,197 crore, SGST was Rs 28,541 crore, IGST was Rs 57,864 crore (including Rs 27,900 crore collected on import of goods) and Cess was Rs 7,790 crore (including Rs 815 crore collected on import of goods).The above figure includes GST collection received from GSTR-3B returns filed between 1st July 2021 to 31st July2021 as well as IGST and cess collected from imports for the same period.

With the easing out of COVID restrictions, GST collection for July 2021 has again crossed Rs 1 lakh crore, which clearly indicates that the economy is recovering at a fast pace.

Buzzing Index:

The Nifty Realty index jumped 3.86% to 414.05, rising for third consecutive trading session. The realty index added 5.84% in three trading days.

Oberoi Realty (up 9%), Prestige Estate (up 5.39%), Indiabulls Real Estate (up 4.76%), Sobha (up 4.32%), Godrej Properties (up 3.48%), DLF (up 2.75%), Brigade Enterprises (up 2.61%) and Phoenix Mills (up 1.89%) were top gainers in realty space.

July Auto Sales:

Ashok Leyland added 1.96% to Rs 135.40 after the commercial vehicle maker posted an 81% jump in total sales (domestic + exports) to 8,650 units in July 2021 from 4,776 units sold in July 2020. On a sequential basis, Ashok Leyland's total sales surged 34.15% in July 2021 from 6,448 units sold in June 2021. Total domestic medium and heavy commercial vehicle (M&HCV) sales soared 132% year-on-year to 3,473 units in July 2021. Total domestic light commercial vehicle (LCV) sales climbed 67% to 4,656 units in July 2021 over July 2020.

Maruti Suzuki India advanced 1.10% to Rs 7055.35 after the company's total sales rose 50.3% to 162,462 units in July 2021 from 108,064 units sold in July 2020. The company's total sales are higher by 10.2% as compared with 147,368 units sold in June 2021. While the company's total domestic sales (domestic + OEM) increased by 39.4% to 141,238 units, exports sales surged to 21,224 units (up 3.14x YoY) in July 2021 over July 2020. On a month-on-month (MoM) basis, the company's domestic sales (domestic + OEM) and exports have improved by 8.4% and 24.7%, respectively.

Bajaj Auto rose 0.28%. The auto major's total sales surged 44% to 3,69,116 units in July 2021 as against 2,55,832 units sold in July 2020. Sequentially, Bajaj Auto's total sales rose 6.63% in July 2021 compared with 3,46,136 units sold in June 2021. Total domestic sales increased 5% to 1,67,273 units in July 2021 as against 1,58,976 units in July 2020. Exports zoomed 108% to 2,01,843 units July 2021 over 96,856 units in July 2020.

Tata Motors gained 1.04%. The company's total sales stood at 54,119 units in July 2021, compared to 27,711 units in July 2020, registering a growth of 95.3% on a YoY basis. The company's domestic sales rose by 92% to 51,981 vehicles in July 2021 from 27,024 vehicles in July 2020. The domestic sales are higher by 19% as compared with 43,704 vehicles sold in June 2021. The auto major said its passenger vehicle sales in the domestic market stood at 30,185 units in July, as compared to 15,012 units in the same month last year. Commercial vehicle sales in the domestic market stood at 21,796 units, up 81% from 12,012 units in July 2020.

Escorts fell 1.43%. The company's tractor sales rose 23.3% to 6,564 units in July 2021 from 5,322 units sold in July 2020. Sequentially, Escorts' total tractor sales declined 47.6% in July 2021 as compared with 12,533 tractors sold June 2021. The company said it has registered highest ever July sales. Domestic tractor sales in July 2021 was at 6,055 tractors as against 4,953 tractors in July 2020, registering a growth of 22.2%. The three-week slowdown in monsoon activity from mid-June to mid-July temporarily affected sowing of Kharif crops leading to some slowdown in sales in July. Meanwhile, Escorts said that the commodity inflation continued to put pressure on the margins despite three price increases in the last nine months. Export tractor sales in July 2021 was at 509 tractors against 369 tractors sold in July 2020, registering a growth of 37.9%.

Hero MotoCorp rose 0.15%. The company said that its total sales in July 2021 stood at 4,54,398 units, down by 12.6% from 5,20,104 units sold in July 2020. The company's total sales are lower by 3.1% as compared with 4,69,160 units sold in June 2021. While domestic sales declined by 16.3% to 4,29,208 units, exports, however, surged to 25,190 units (up 3.33x YoY) in July 2021 over July 2020. As compared with June 2021, domestic sales and exports are lower by 2.1% and 17.8%, respectively.

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