Nifty Auto holds steady amid broader bullish tone in Sensex and Nifty; Amara Raja, Exide, Bharat Forge, Maruti lift the performance; Hero MotoCorp top bear

23 Feb 2022 , 10:50 AM

Nifty Auto holds steady to trade marginally higher despite weak global cues on Wednesday. The Index gained nearly 1% during early trading deals despite the gloomy broader sentiments of indices. Heavyweights Maruti, Bharat Forge, Exide, Bosch and Tata Motors were in top gear to ensure bull run from the sector. TVS Motor Company and TI India logged profit bookings to emerged as top losers.

Indian equity benchmarks Sensex and Nifty50 gained control over the fall and witnessed some resurgence today from previous session. Investors awaited more outcomes from Russia-Ukraine issue as volatility is expected to remain on the higher side amid global uncertainties.

At around 10:45 AM, BSE Sensex was trading at 57,423.59 up 122.91 points or 0.21% and Nifty50 at 17,135.35 up 43.15 points or 0.25%.

Nifty Auto was trading at 11,395 up 51.95 points or 0.46%, after touching a high of 11,474.20 and low of 11,386.55 during intraday trade.

Top Gainers of the index are: Amara Raja Batteries (+1.63%), Exide Industries (+1.42%), Bharat Forge (+1.25%), Maruti Suzuki (+1.24%) and Bosch (+1.06%).

Auto major industries Eicher Motors and Tata Motors and MRF were marginally higher to push the index tracking broader markets while Bajaj Auto and Mahindra & Mahindra were on a muted level but traing in the green.

Similarly, top losers of the index are: TVS Motor (-1.99%), TI India (-1.56%), Balkrishna Industries (-0.28%), Ashok Leyland (-0.04%) and Hero MotoCorp (-.01%).   

Hero MotoCorp stocks in focus on Wednesday as the index major join hands with Bharat Petroleum Corporation Limited (BPCL) to set up EV charging infrastructure across India.