Nifty Auto in fast lane amid positive markets; Maruti Suzuki, Hero Motocorp, Bajaj Auto, MRF, Tata Motors drive the index

10 Jan 2022 , 10:40 AM

On Monday trade, the Nifty Auto index was trading on a bullish note led by broad based buying sentiments. The Index was trading higher with heavyweights Maruti Suzuki, Hero MotoCorp lifting the performance. Though, for markets perspective the next few weeks are crucial for equities as an asset class as any of these factors can potentially create a downside risk for the markets.

Further, the semiconductor shortages issue is expected to be on a revival path from mid-2022, however, the new Omicron variant surge could further delay the recovery to 2023. Also, India has been taking measures to address the semiconductor issue and strengthen the chip market which can also upbeat investors sentiments as markets perspective.

At around 10:40 AM, Nifty Auto was trading at 11,476.05 up by 185.15 points or 1.64%. The index has touched an intraday high and low of 11,499.60 and 11,327.20 respectively during early trading hours.

On the index, Maruti Suzuki outperformed as top bull skyrocketing by 3.5% at Rs8,165.45 per piece.

Accordingly, gainers list on Nifty Auto was led by 14 scrips on a advancing note and only 1 scrip declining as auto stocks in a fast lane.

Hero MotoCorp was surging by 2.5% followed by Bajaj Auto, M&M and Bosch up 1.5% each. Similarly nearly 1.3% rise each was recorded in Ashok Leyland and Exide Industries stocks.

Heavyweights Tata Motors (+1.22%), Amara Raja Batteries (+0.95%), TVS Motor (+0.91%) were all trading in the green to lead the gains. 

Stocks like MRF, Eicher Motors and Tube Investments added marginal gains to further push the upbeat markets however BalKrishna Industries was the only laggard down by 0.33% on the index.