The equity benchmarks ended with small gains on Monday. Value buying emerged after the market tumbled in the past six sessions. Firmness in banks and auto shares boosted the indices. On the other hand, IT and FMCG shares witnessed selling. The Nifty hit a high of 15,977.95 in morning trade, but pared gains as the session progressed.

The barometer index S&P BSE Sensex rose 180.22 points or 0.34% to 52,973.84. The Nifty 50 index gained 60.15 points or 0.38% to 15,842.30. In the past six sessions, the Nifty fell 5.40% and the Sensex declined 5.22%.

Small and mid-cap shares rallied. The S&P BSE Mid-Cap index rose 1.51% while the S&P BSE Small-Cap index advanced 1.15%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 2,163 shares rose while 1,240 shares fell. A total of 174 shares were unchanged.

The NSE's India VIX, a gauge of market's expectation of volatility over the near term, advanced 4.43% to 24.5275.

Numbers to Track:

MCX Gold futures for 3 June 2022 settlement rose 0.10% to Rs 49,922.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, fell 0.11% to 104.44.

In the commodities market, Brent crude for July 2022 settlement fell 60 cents or 0.54% at $110.95 a barrel.

Global Markets:

Most European stocks declined while Asian markets ended mixed on Monday as global markets struggled to gain momentum and recover from last week's volatility.

Markets in Singapore, Malaysia, Indonesia, and Thailand were closed for a holiday on Monday.

Meanwhile, China's April retail sales plunged 11.1% on the year, while industrial output fell 2.9%, pointing to the deep damage COVID lockdowns were doing to the world's second-largest economy.

Investors are also keeping a close eye on geopolitical developments as Finland and Sweden moved closer to applying for membership in NATO, ending years of neutrality as Russia's invasion of Ukraine forced the two Nordic nations to reassess their positions.

US stock market witnessed a relief rally on Friday. The Dow rose 466.36 points, or 1.47%, while the S&P 500 climbed 2.39%. The Nasdaq Composite jumped 3.82% and posted its strongest one-day gain since November 2020. Still, all three averages posted losing weeks.

Buzzing Segment:

The Nifty Auto index jumped 2.27% to 10,649.10. The index has risen 4.77% in two sessions.

Escorts (up 6.39%), Bharat Forge (up 5.46%) and TVS Motor Company (up 2.73%), Ashok Leyland (up 2.37%), Maruti Suzuki India (up 2.25%), Hero MotoCorp (up 2.04%), Bajaj Auto (up 1.71%) and Mahindra & Mahindra (up 1.63%) advanced.

Eicher Motors gained 7.95% after the company reported 16% jump in consolidated net profit to Rs 610.14 crore on a 8.6% increase in total revenue from operations to Rs 3,193.32 crore in Q4 FY22 over Q4 FY21. During the quarter, Royal Enfield recorded sales of 182,125 motorcycles, down by 10.4% from 203,343 motorcycles sold during the same period in FY 2020-21.

Balkrishna Industries spurted 8.31%. The company reported 36% jump in net sales to Rs 2,373.87 crore in Q4 FY22 from Rs 1,745.89 crore in Q4 FY21. Sales volumes were at 77,119 million tonnes (MT) in quarter ended March 2022, up by 13% from 68,003 MT recorded in the quarter ended March 2021. BKT recorded 1% YoY rise in standalone net profit to Rs 374 crore in Q4 FY22. Standalone EBITDA rose 3% to Rs 576 crore in Q4 FY22 from Rs 558 crore in Q4 FY21. EBITDA margin stood at 23.7% in Q4 FY22 as against 31.9% in Q4 FY21.

Bharat Forge rallied 5.46% after the company reported a 9.3% rise in consolidated net profit to Rs 231.85 crore on a 71.5% increase in net sales to Rs 3,573.09 crore in Q4 FY22 over Q4 FY21. Consolidated profit before tax grew 25% to Rs 336.6 crore in Q4 FY22 as against Rs 269.26 crore in Q4 FY21.

Stocks in Spotlight:

Ambuja Cements gained 2.59% and ACC jumped 3.70%. Adani Group will acquire Holcim's full stakes in Ambuja Cement and ACC. The corresponding offer share prices of Rs 385 for Ambuja Cement and Rs 2,300 for ACC translate into cash proceeds of 6.4 billion Swiss Franc (CHF) for Holcim.

Holcim holds 63.11% stake in Ambuja Cement, which owns a 50.05% interest in ACC, as well as its 4.48% direct stake in ACC.

Avenue Supermarts (DMart) rallied 10.14% after the company posted 3.13% increase in consolidated net profit to Rs 426.83 crore on 18.55% jump in revenue from operations to Rs 8,786.45 crore in Q4 FY22 over Q4 FY21. On a consolidated basis, profit before tax stood at Rs 608.89 crore in the fourth quarter, up by 12.02% from Rs 543.56 crore during the period under review.

CL Educate hit an upper circuit limit of 5% to Rs 116.75 after the company said its board will consider a share buyback on Thursday, 19 May 2022.

Maruti Suzuki India rose 2.14%. The car major finalised land site for new manufacturing plant in Haryana. The first plant with a manufacturing capacity of 250,000 vehicles per annum is expected to be commissioned within the year 2025 subject to administrative approvals. In the first phase, the investment would be over Rs 11,000 crore.

Quint Digital Media hit an upper circuit limit of 10% to Rs 327.55. The company and its material subsidiaries viz. Quintillion Media and Quintillion Business Media signed definite agreements with AMG Media Networks, a wholly owned subsidiary of Adani Enterprises, to conclude the divestment of 49% stake in Quintillion Business Media.

Quintillion Business Media owns and operates an exclusive business and financial news digital media platform viz. www.bqprime.com (formerly known as www.bloombergquint.com).

Bank of Baroda advanced 5.16% after the bank reported net profit of Rs 1778.77 crore in Q4 FY22 as against a net loss of Rs 1046.50 crore in Q4 FY21. Total income declined 3.7% to Rs 20,695.90 crore in Q4 FY22 from Rs 21501.94 crore in Q4 FY21. The bank's profit before tax (PBT) fell 29.1% year on year to Rs 1,898.76 crore in the quarter ended 31 March 2022.

Amber Enterprises India hit a lower circuit limit of 20% to Rs 2701.20 after the company reported 24.2% decline in consolidated net profit to Rs 57.22 crore in Q4 FY22 as against Rs 75.46 crore in Q4 FY21. Net sales stood at Rs 1,936.69 crore for the quarter ended 31 March 2022 as against Rs 1,598.43 crore during the same period in the previous year, registering a growth of 21.2%.

Triveni Engineering & Industries fell 5.26%. The company reported 28.4% rise in consolidated net profit to Rs 109.17 crore on a 7.8% fall in net revenue from operations to Rs 1,070.03 crore in Q4 FY22 over Q4 FY21. EBITDA improved by 1.7% to Rs 177.66 crore in Q4 FY22 from Rs 174.72 crore in Q4 FY21. EBITDA margin in Q4 FY22 was 17% as against 15% in Q4 FY21.

REC added 1.75% after the company recorded 10.8% rise in consolidated net profit to Rs 2,301.33 crore on a 4.7% increase in total income to Rs 9,653.27 crore in Q4 FY22 over Q4 FY21. Operating profit increased by 5.8% YoY to Rs 3,624.66 crore in Q4 FY22. Provisions and write offs aggregated to Rs 761.86 crore (up 5.9% YoY) in the fourth quarter.

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