Nifty Auto index trades flat; Tata Motors surges 4%

Tata Motors secured the top position on the index trading higher by 4%.

Apr 10, 2019 08:04 IST India Infoline News Service

Stock Exchange
Equity benchmark indices were trading with losses in the afternoon trade. The sentiment was also impacted after the IMF cut India’s growth forecast by 20bps to 7.3% for the current financial year.

The Sensex was down 221 points at 38,718 while the Nifty was at 11,624, down 47 points. The market breadth was neutral on the NSE with 822 shares advancing, 877 shares declining, and 386 remaining unchanged.

The NSE Auto index was trading flat at 8,622.

Tata Motors secured the top position on the Auto index trading higher by 4%. The stock has hit a six-month high in an otherwise subdued market on the expectation of margin expansion due to an improvement in JLR’s business. Also, the stock was trading at its highest level since October 10, 2018, on the BSE.

Other auto stocks including M&M, Bajaj Auto, and TVS Motor are also trading higher by 1%, respectively.

On the flip side, Motherson Sumi, Bharat Forge, Hero MotoCorp, and Maruti were trading in the negative territory.

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