Positive Trading for Nifty Auto Index Amid Weak Market
If you’re following the Nifty Auto index, you’ll be pleased to know that it was trading positively around 11:15 AM on Wednesday, even in a weak market. This positive trend was reflected in the top gainers of the index, including TVS Motor Company Ltd., Balkrishna Industries Ltd., MRF Ltd., Samvardhana Motherson International Ltd., and Ashok Leyland Ltd. On the flip side, Bharat Forge Ltd., Bosch Ltd., Sona BLW Precision Forgings Ltd., and Mahindra & Mahindra Ltd. were among the top losers.
At the time of writing this report, the Nifty Auto index was up 0.34 per cent at 16198.35. The benchmark NSE Nifty50 index was also up 0.8 points at 19407.5, while the BSE Sensex was down 68.3 points at 64874.1.
Among the 50 stocks in the Nifty index, 27 were trading in the green, while 23 were in the red. Notable shares that were actively traded on the NSE included JP Power, YES Bank, Vodafone Idea, Reliance Power, and Suzlon Energy.
In today’s trade, shares of HB Stockholding, North Eastern, Compucom Soft, Sastasundar Ventures, and CL Educate hit their fresh 52-week highs. Conversely, Fourth Dimension Sol, Winsome Yarns, Compuage Infocom, Mask Investments, and GIR Natureview hit fresh 52-week lows.
Hot Take: Steady Performance Despite Market Volatility
The Nifty Auto index demonstrated resilience by maintaining a positive trajectory despite a weak overall market performance. This steadiness reflects a certain level of stability within the auto sector amid broader market volatility. It will be interesting to see if this positive trend continues and whether it can withstand external market pressures moving forward.
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