Nifty auto falls over 100 pts ahead of December F&O expiry

29 Dec 2022 , 11:44 AM

Auto stocks were trading lower on Thursday amid F&O expiry. As the markets are under pressure, auto segment getting weak demand from the investors.

At around 11:32 AM, BSE Sensex was trading at 60,593.55 down 316.73 points or 0.52% and Nifty50 at 18,014.50 down 108 points or 0.60%.

Nifty Auto was trading at 12,500.55 down 104.90 points or 0.83%, after touching a high of 12,561.25 and low of 12,456.45 during intraday trade.

TI India was the top laggard tumbling over 3.5% at Rs2,686.10 per share.

Tata Motors and Sona Comstar dragged 1.8% and 1.7% respectively. Bosch (-1.3%), MRF (-1.1%) and Bal Krishna (-1%) underperformed. Maruti Suzuki was 0.68% down at Rs8,363.40. Bajaj Auto, Motherson Sumi, Eicher Motors were under pressure and plunging around0.5% each to drag the overall index.

The Index had all 15 scrips declining including TVS Motor, Hero MotoCorp, M&M and Ashok Leyland slipping marginally.

Further, amid F&O expiry of December, a couple of brokerages have picked their top auto stocks. Analysts estimates demand for medium and heavy commercial vehicle (MHCV) remained healthy but the one for two-wheeler slowed to pre-festive levels, with no recovery in sight.

They said passenger vehicle (PV) industry demand is also showing some signs of slowdown, with discounts on the rise. They cited weak demand in the entry car segment.

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