BENGALURU, Aug 2 (Reuters) - Indian shares closed higher on
Monday, led by energy companies on a pickup in fuel demand,
while a recovery in July sales lifted auto stocks after a second
wave of COVID-19 cases had dented demand.
The blue-chip NSE Nifty 50 index ended up 0.77% at
15,885.15 and the benchmark S&P BSE Sensex rose 0.69%
India's finance ministry reported on Sunday that gross goods
and services tax (GST) revenue collected in July was 1.16
trillion rupees, up 33% from a year earlier. (https://bit.ly/2V8718K)
"Sentiment got a boost as GST collection recovered to a
three-month high in July, exceeding 1.1 trillion rupees, as
economic activity resumed," Gaurav Garg, head of research,
CapitalVia Global Research, said in a note.
Energy stocks rose 1.6% after preliminary sales
data showed the country's daily gasoline consumption exceeded
pre-pandemic levels in June as states relaxed pandemic-related
Oil marketing companies Indian Oil Corp, Hindustan
Petroleum Corp and Bharat Petroleum Corp
rose between 2.3% and 2.8%. Heavyweight Reliance Industries Ltd
The Nifty auto index rose 1.3%, led by Maruti
Ltd, Tata Motors, Mahindra and Mahindra Ltd
, Eicher Motors, and Ashok Leyland
- all up between 1.4% and 2.9%.
India's top car maker, Maruti, reported a 50% jump in July
sales on Sunday, compared with a year ago, while Jaguar Land
Rover-parent Tata Motors posted a 92% surge in total domestic
Bajaj Auto Ltd said on Monday its July sales
jumped 44% against a year ago, with exports more than doubling.
Eicher Motors posted a 97% jump in exports.
Shares of railway ticketing, catering and tourism services
provider IRCTC surged as much as 7.7% to a record high
after the state-run company said it would consider a stock
In broader markets, European shares picked up in early
trading after a recovery in Asian equities, with risk appetite
boosted by recent strong earnings and a U.S. infrastructure
(Reporting by Nallur Sethuraman in Bengaluru; Editing by