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Indices trade with modest losses, auto shares under pressure

Published on Jan 02, 2024 11:41

The key equity barometers continued to trade with moderate losses in mid-morning trade. The Nifty traded near the 21,600 level after hitting the day`s high of 21,755.60 in early trade. Auto shares declined for the second day in a row.

At 11:28 IST, the barometer index, the S&P BSE Sensex, was down 543.13 points or 0.75% to 71,728.81. The Nifty 50 index lost 138.40 points or 0.64% to 21,603.50.

In the broader market, the S&P BSE Mid-Cap index slipped 0.63% and the S&P BSE Small-Cap index fell 0.56%.

The market breadth was negative. On the BSE, 1,482 shares rose and 2,174 shares fell. A total of 125 shares were unchanged.

Buzzing Index:

The Nifty Auto index declined 1.69% to 18,279.65. The index had slipped 1.82% in two trading sessions.

Eicher Motors (down 3.18%), Ashok Leyland (down 2.74%), Mahindra & Mahindra (down 2.52%), TVS Motor Company (down 2.18%) and Hero MotoCorp (down 1.92%), Bajaj Auto (down 1.63%), Sona BLW Precision Forgings (down 1.54%), Bosch (down 1.32%), Bharat Forge (down 1.19%) and Samvardhana Motherson International (down 1.09%) slipped.

Stocks in Spotlight:

TVS Motor Company declined 2.18. The 2-wheeler maker reported monthly sales of 301,898 units in December 2023, registering a growth of 25% as against 242,012 units sold in December 2022.

South Indian Bank rose 0.93%. The bank�s gross advances jumped 10.83% to Rs 77,713 crore as of 31 December 2023 as against Rs 70,117 crore as of 31 December 2022.

Global Markets:

Asian markets were trading mixed on the first trading day of the year. Japan was assessing the damage from a powerful earthquake that struck its central region on New Year�s Day. Markets in the region ar closed until January 4.

A private survey showed manufacturing activity in China expanded in December. The Caixin manufacturing purchasing managers� index came in at 50.8 in December, according to a release Tuesday, following a 50.7 reading for November. China�s official PMI fell to 49 in December from 49.4 the previous month, the country�s National Bureau of Statistics said in a Sunday release.

U.S. markets were closed on Monday for New Year�s Day.

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