In the previous trading session, Nifty and Sensex ascended to the highest level in four months, where Nifty contentedly settled above its psychological level of 10,500. Auto stocks contributed largely to the rally as the monthly figures showed some optimistic trend, especially in two-wheelers and tractors segment.

The stock of Hindalco Industries Limited has been picked up by our Bollinger Band Squeeze scanner, which suggests that the stock is near a consolidation breakout.

Kolkata-based infrastructure company, GPT Infraprojects announced after trading hours on Thursday that it has received an order worth Rs 102.80 crore from National Highways & Infrastructure Development Corporation Limited (NHIDCL).

The shares of Steel Strips Wheels Limited (SSWL) slipped by 1.32 per cent on Thursday after the company reported its monthly sales numbers for the month of June.

Their partnership will be of great help especially in the current COVID-19 situations, where enterprises are looking to reorganise cash flows.

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The company's production capacity of IPA is already among the highest in the industry. With an installed capacity of 70,000 MTPA, it dominates the industry with a 75 per cent market share in IPA manufacturing.

Following gains in auto and IT stocks, domestic benchmark indices ended today's trading session on a positive note with Sensex gaining by 429.25 points or 1.21 per cent to close at 35,843.70 levels while Nifty increased by 121.65 points or 1.17 per cent to settle at 10,551.70.

Overall, with one segment having an adverse forecast and exposure to the commercial vehicle class (38 per cent of total revenues), the outlook is still looking grim for the company. The stock is already trading at its multi-year low.

The market opened in the green on July 2, 2020. The previous trading session witnessed the Sensex going up by 498.65 points to end at 35,414 and the Nifty was up 127.95 points to close at 10,430 .