Nifty holds 10,600 mark; Banking, auto stocks down

NSE Building
After a flat start in the morning, key benchmark indices hit intraday lows on weakness in Asian stocks. The Sensex had hit a record high in early trade. Banks and auto stocks drove the market lower. 

At 12:38 PM, the BSE Sensex was trading at 34,349, down 93 points, while the broader Nifty50 was ruling at 10,611, down 26 points.

Shares of Oil & Natural Gas Corp, Oil India, Selan Exploration Technology gained 1-7% after reports said crude oil prices rose to their highest since December 2014 in the international market.

Share price of Steel Strips Wheels (SSWL) gained 2.5% as the company bagged maiden truck wheels’ order from the US. The company has won its maiden exports order from high potential US Truck & Trailer Aftermarket for its Truck Steel wheels plant in Chennai.

Shares of Welspun India were marginally off highs after reports said the company's promoter sold 5% stake in the company via several large deals today.

Auto stocks edged lower. Ashok Leyland (-1.46%), Eicher Motors (-1.22%), Bajaj Auto (-0.53%), Hero MotoCorp (-0.29%) and TVS Motor Company (-0.21%) declined. Mahindra & Mahindra (+0.26%) and Maruti Suzuki India (+0.23%) edged higher.

The BSE Mid-cap and BSE Small-cap indices were up 0.04% and 0.18%, respectively.

Volatility index India VIX gained 1.39%.

Wipro (-1.6%), HPCL (+1.5%), Coal India (+1.3%), Adani Ports (+1.1%) and Tech Mahindra (+1%) were the top gainers on Nifty50.

UPL (-1.7%), Indiabulls HF (-1.6%), Asian Paints (-1.3%), Eicher (-1.3%) and Dr. Reddy’s (-1.1%) were the top losers in today’s trade.

Out of 2,009 stocks traded on the NSE, 601 advanced, 1,086 declined and 322 remained unchanged today.

A total of 115 stocks registered a fresh 52-week high in trade today, while seven stocks touched a new 52-week low on the NSE.







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