BENGALURU, Aug 2 (Reuters) - Indian shares rose on Monday,
led by auto stocks as monthly data showed a recovery in July
sales after a second wave of COVID-19 cases had dented demand,
while a pick-up in fuel demand lifted energy companies.
By 0452 GMT, the blue-chip NSE Nifty 50 index
climbed 0.6% to 15,857 and the benchmark S&P BSE Sensex
rose 0.56% to 52,879.31.
"The derivative pressure that was there last week is gone
and (corporate) results show that except for banking, growth is
maintained and margins are good. That's something the market is
liking very much," said AK Prabhakar, head of research at IDBI
Capital in Mumbai.
"Maruti (July) sales are good ... Two-wheeler exports have
been very good, which needs to be looked at. If the unlocking
plays out well, Maruti and export-oriented two-wheeler stocks
should really do good," Prabhakar said.
India's top car maker Maruti Ltd reported a 50%
jump in July sales on Sunday, compared with a year ago, while
Jaguar Land Rover parent Tata Motors Ltd posted a 92%
surge in total domestic sales.
Bajaj Auto Ltd said on Monday its July sales
jumped 44% against a year ago, with exports surging 108%. Eicher
Motors posted a 97% jump in exports.
The Nifty auto index rose 1%, led by more than
1%-2% gains in Maruti and Tata Motors, Mahindra and Mahindra Ltd
, Eicher, and Ashok Leyland
Meanwhile, India's energy index added 0.9% after
preliminary sales data showed that the country's daily gasoline
consumption exceeded pre-pandemic levels in June as states
relaxed COVID-19-related lockdowns.
Oil marketing companies Indian Oil Corp, Hindustan
Petroleum Corp and Bharat Petroleum Corp
rose between 1.2% and 1.7%.
In broader markets, Asian shares were trying to stabilize,
though Beijing's regulatory crackdown continued to reverberate
amid disappointing economic news.
(Reporting by Nallur Sethuraman in Bengaluru; editing by