Barometers turn rangebound, auto shares decline

21 Nov 2022 , 02:33 PM

The frontline indices traded in a narrow range with deep cuts in mid-afternoon trade. The Nifty hovered a tad below the 18,150 mark. Auto shares extended losses for the fourth consecutive trading session. At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 566.1 points or 0.92% to 61,097.38. The Nifty 50 index lost 163.05 points or 0.89% to 18,144.60. In the broader market, the S&P BSE Mid-Cap index shed 0.31% while the S&P BSE Small-Cap index rose 0.03%. The market breadth was weak. On the BSE, 1,379shares rose, and 2,154shares fell. A total of 183 shares were unchanged. Numbers to Track: The yield on Indias 10-year benchmark federal paper rose to 7.335 as compared with 7.307 at close in the previous trading session. In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 81.79, compared with its close of 81.74 during the previous trading session. MCX Gold futures for 5 December 2022 settlement declined 0.36% to Rs 52,400. The US Dollar index (DXY), which tracks the greenbacks value against a basket of currencies, was up 0.56% to 107.56. The United States 10-year bond yield shed 0.16% to 3.812. In the commodities market, Brent crude for January 2023 settlement fell 68 cents or 0.78% to $86.94 a barrel. Buzzing Index: The Nifty Auto index fell 0.79% to 12,673.60, extending its losing run for the fourth session. The index lost 3.66% in four trading sessions. TVS Motor Company (down 3.07%), Hero MotoCorp (down 1.73%), Mahindra & Mahindra (down 1.46%), Bharat Forge (down 1.43%), Sona BLW Precision Forgings (down 1.38%), Balkrishna Industries (down 1.13%), Ashok Leyland (down 0.97%), Samvardhana Motherson International (down 0.83%), Bosch (down 0.68%) and Eicher Motors (down 0.58%) edged lower. Stocks in Spotlight: Ahluwalia Contracts (India) gained 2.08% after the civil construction said that it has secured an order for construction of Lachit Moidam Memorial & Cultural Complex at Lahdoigarh, Jorhat, Assam from Government of Assam, Office of Chief Engineer, PWD, Building Assam,. The project is worth about Rs 120.23 crore. The company added that its order inflow during the FY 2022-23 stood at Rs 3,765 crore, till date. Responsive Industries fell 2.09% after the company announced that Santosh Kudalkar has tendered his resignation from the office of chief financial officer (CFO) of the company due to personal reasons. The company has accepted his resignation and relieved him of his responsibilities with effect from Friday, 18 November 2022. Powered by Capital Market – Live News