INDICES TRADE LOWER; AUTO SHARES UNDERPRESSURE

The headline equity indices traded with limited losses in mid-afternoon trade. The Nifty traded below the 25,000 level. Auto shares witnessed profit booking after advancing in the past three consecutive trading sessions.

At 14:27 IST, the barometer index, the S&P BSE Sensex was down 232.50 points or 0.29% to 81,369.75. The Nifty 50 index lost 40.15 points or 0.16% to 24,958.30.

In the broader market, the S&P BSE Mid-Cap index rose 0.18% and the S&P BSE Small-Cap index added 0.29%.

The market breadth was positive. On the BSE, 2,015 shares rose and 1,831 shares fell. A total of 124 shares were unchanged.

Buzzing Index:

The Nifty Auto index slipped 0.49% to 26,398.15. The index rallied 2.79% in past three consecutive trading sessions.

Mahindra & Mahindra (down 2.22%), Balkrishna Industries (down 1.73%), Maruti Suzuki India (down 1.15%), Bharat Forge (down 1.14%) and Bosch (down 0.12%), TVS Motor Company (down 0.11%), MRF (down 0.09%) declined.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper rose 0.30% to 6.908 as compared with previous close 6.887.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.0650, compared with its close of 83.9800 during the previous trading session.

MCX Gold futures for 4 December 2024 settlement gained 0.69% to Rs 75,818.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.17% to 102.81.

The United States 10-year bond yield fell 0.42% to 4.081.

In the commodities market, Brent crude for December 2024 settlement lost 56 cents or 0.71% to $78.84 a barrel.

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