Nifty Auto index drops; stocks of Apollo Tyres, Maruti slip

The auto index is trading lower at 7,862.15 amid heavy selling pressure in Apollo Tyres, Maruti and TVS Motors.

Jun 18, 2019 09:06 IST India Infoline News Service

Maruti Ignis
Equity benchmark indices continue to trade volatile in the last hour of the trading session. The Sensex was up 120 points at 39,080, while the Nifty was up 28 points to 11,700. The market breadth was negative with 438 shares advancing, 1,356 shares declining, and 319 remaining unchanged.

The Nifty Auto index remained under pressure on the NSE index. The index is trading lower at 7,862.15 amid heavy selling pressure in Apollo Tyres, Maruti and TVS Motors.

Bharat Forge, Exide, Bosch, Amara Raja and Tata Motors were in the negative zone.

Motherson Sumi rose 2% and among top gainers in the auto index, followed by Hero MotoCorp, Bajaj Auto and Eicher.

The most active stocks on the NSE are Indiabulls Housing Finance, YES Bank, Reliance Industries, IndusInd Bank and State Bank of India.

The BSE Oil & Gas index rose 1% at 14,847.63 led by BPCL, HPCL, ONGC and IOC. Crude oil prices in the global markets steadied caught between rising tensions in the Middle East and signs that economic growth is being hit by trade tensions between the US and China. Additionally, the American Petroleum Institute (API) will be releasing the weekly inventory report ahead of the EIA’s report later in the week. Last week’s report from the EIA on global waning demand continues to weigh on oil prices.

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