Nifty Auto index rallies over 130 pts; Heavyweights Bajaj Auto, Tata Motors, TVS Motor lead the pack

27 Jan 2023 , 12:47 PM

On Friday, Nifty Auto index was trading on a bullish note led by broad based buying sentiments despite weak market cues. The Index was trading higher with heavyweights Bajaj Auto, Tata Motors and TVS Motor lifting the performance.

Though, for markets perspective the next few weeks are crucial for equities as the sector is eyeing for policy support in the Union Budget 2022 which is scheduled for February 1, 2023.

At around 10:40 AM, Nifty Auto was trading at 13,092.90 up by 135.75 points or 1.05%. The index has touched an intraday high and low of 13,278.85 and 13,092.70 respectively during early trading hours.

On the index, Bajaj Auto outperformed as top gainer skyrocketing by 6.5% at Rs3,957 per share.

Accordingly, gainers list on Nifty Auto was led by 6 scrips on advancing note and 9 scrips on declining note.

Tata Motors was surging by 6% followed by TVS Motor up 3.1%. Similarly, nearly 3% rise each was recorded in Ashok Leyland and Tube Investments stocks.

Heavyweight Mahindra & Mahindra rallies over 0.5% to drive the index.

However, stocks like Bal Krishna Industries (-2.6%), MRF (-2.5%), Motherson Sumi (-1.9%), Hero MotoCorp (-1.5%), Sona Comstar (-1.1%) were under selling pressure from investors. Heavyweights Bharat Forge, Maruti Suzuki, Eicher Motors and Bosch fell between 0.9-0.1% amid weak markets.

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