Nifty Auto continues bull ride ahead of festive season; Maruti, Tata Motors among top gainers

Ashok Leyland led the sectorial gains while Bharat Forge emerged as the biggest laggard.

Oct 05, 2021 11:10 IST India Infoline News Service

Bull run Faster
The Nifty Auto index continued to hit the fast lane despite volatile markets on Tuesday. Ashok Leyland, Maruti, and Tata Motors motored contributed massvely to the upside while Bharat Forge shed nearly 3%. The auto sector continued its winning streak as investors are hopeful of good returns ahead of Q2 earnings and festive season amid semiconductor shortages.

Sensex and Nifty50 suffered minor losses in early trade on Tuesday after a mixed opening tracking weakness across global markets. There was selling pressure witnessed in financial, IT, and pharma stocks that pulled the market lower, though gains in oil & gas and select auto counters limited the downside.

At around 11.55 am, BSE Sensex was trading at 59,238.35 down 60.97 points or 0.10% and Nifty50 at 17,684.60 down 6.65 points or 0.04%.

The Nifty Auto was trading at 10,686.65 up 45.50 points or 0.43%, after touching a high of 10,711.10 and low of 10,599.95 during intraday trade.

Ashok Leyland led the gains at Rs131.65 per piece, up 1.4%. Maruti was also bullish at Rs7,259.25 per piece, up 1.24%. Tata Motors continued gaining spree on healthy September sales. It was trading 1.15% higher at Rs345.95 per piece. Exide India also gained over 1% to outperform.

Bajaj Auto, Balkrishna Industries, Eicher Motors, and TVS Motor Company also traded higher. Mahindra & Mahindra, Bosch and Amara Raja Batteries were trading flat. 

Bharat Forge tanked nearly 3% to drag at Rs720.40 per piece. MRF also shed over 0.6% while Tube Investments of India continued to struggle. Hero MotoCorp was also under pressure.

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