Markets trade lower with Nifty around 18,700; Auto stocks underperform

2 Dec 2022 , 09:48 AM

Indian markets traded in the red during Fridays opening bell amid weak global cues.A massive profit booking is seen in auto stocks on Indian benchmarks. Further, pharma, FMCG, banking stocks weighed on Sensex and Nifty 50.

At around 9:48 AM, Sensex was trading at 63,016.15 down by 268.04 points or 0.42%. Nifty 50 performed at 18,732.70 lower by 79.80 points or 0.42%. 

On BSE, in terms of sectoral indices, the Auto index dived nearly 150 points. The Banking and FMCG index also slipped over 0.5% each. On the contrary, the Metal and Oil & Gas indexes were top contributors surging marginally.

Bulls on Nifty were – ONGC (+2%) followed by Hindalco, Tech Mahindra, Tata Steel and BPCL with substantial gains.

Bears on Nifty were – Eicher Motors falling over 2% followed by Divis Lab tumbling 1.7%, Hindustan Unilever dropping 1.6% and Bajaj Auto diving 1.4%. Maruti Suzuki shed more than 1%.

In the early deals, Asian markets opened in the red led by the Japanese ‘Nikkei’ which was down 500 points in early trade as profit booking after the sharp weekly rally was seen in most Asian indices.

Overnight, on the Wall Street, US markets see consolidation after the big move yesterday as Dow Jones closes lower by 194 points while Nasdaq held on to the gains of 14 points.

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