Benchmarks trade with modest losses; Nifty below 17,150
Published on Oct 11, 2022 10:31
The headline equity barometers traded with moderate losses in the morning trade. Weak global cues dented the investor sentiments. The Nifty slipped below the 17,150 level. Auto stocks declined for the second straight day.
At 10:26 IST, the barometer index, the S&P BSE Sensex, was down 291.71 points or 0.50% to 57,699.40. The Nifty 50 index lost 96.85 points or 0.56% to 17,144.15.
In the broader market, the S&P BSE Mid-Cap index declined 0.39% while the S&P BSE Small-Cap index slipped 0.06%.
The market breadth was positive. On the BSE, 1,578 shares rose and 1,498 shares fell. A total of 147 shares were unchanged.
Foreign portfolio investors (FPIs) sold shares worth Rs 2,139.02 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,137.46 crore in the Indian equity market on 10 October, provisional data showed.
Delta Corp (down 0.59%) and GM Breweries (down 0.70%) will announce their financial results for Q2 FY23 later in the day.
The Nifty Auto index declined 0.89% to 12,581, extending its falling run to second trading session. The index lost 1.59% in the past two trading sessions.
Ashok Leyland (down 2.2%), Eicher Motors (down 1.69%), Samvardhana Motherson International (down 1.45%), Tube Investments of India (down 1.37%), Maruti Suzuki India (down 1.12%), Bajaj Auto (down 1.05%), TVS Motor Company (down 0.84%), Mahindra & Mahindra (down 0.76%), Hero MotoCorp (down 0.24%) and Sona BLW Precision Forgings (down 0.23%) were the top losers.
On the other hand, MRF (up 0.5%), Bharat Forge (up 0.21%) and Tata Motors (up 0.08%) edged higher.
Bajaj Auto declined 1.05%. The two-wheeler maker announced that its board approved the completion and closure of the share buyback on Monday, 10 October 2022. Bajaj Auto commenced the share buyback on 4 July 2022. The two-wheeler maker said it bought back 64,09,662 equity shares, utilizing an aggregate amount of Rs 2499.96 crore, representing 99.99% of the maximum buyback size.
Tata Motors rose 0.08%. The Tata Motors Group global wholesales in Q2 FY23, including Jaguar Land Rover (JLR), stood at 3,35,976 units, rising 33%, as compared to Q2 FY22. Global wholesales of all Tata Motors` commercial vehicles and Tata Daewoo range in Q2 FY23 were at 1,03,226 units, higher by 16%, over Q2 FY22. Global wholesales of all passenger vehicles in Q2 FY23 stood at 2,32,750 units, registering a growth of 43% as compared to Q2 FY22.
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