Thursday's Bull: Nifty Auto outperforms broader markets as heavyweights TVS Motor, Hero MotoCorp, Bajaj Auto, Maruti drive the rally

3 Feb 2022 , 02:34 PM

Auto stocks were the top bulls of Thursday’s trading despite mixed sales numbers for January 2022. Nifty Auto has gained by nearly 1.5% so far today. The index has witnessed a broad-based buying with heavyweight stocks driving the rally. The index has touched an intraday high and low of 11,840.45 and 11,633.60 respectively.

At around 2.22 pm, Nifty Auto was trading at 11,736.60 up by 104.20 points or 0.90%. On the index, 9 scrips advanced and 6 scrips declined.

TVS Motor was the top bull soaring by nearly 5% followed by Hero MotoCorp and Bajaj Auto surging 3.8% and 2.7%. Ashok Leyland and Maruti Suzuki climbed by 1.9% and 1.6%. Tube Investments advanced 1.3%.

Balkrishna, Eicher and Tata Motors gained marginally to nearly 1%.

On the bear front, MRF and Bosch weighed down the most. Amara Raja Batteries was marginally down while Exide traded flat but in the red. In terms of percentage, M&M and Bharat Forge were the worst hit tumbling over 1% each.

Auto companies posted a mixed January 2022 sales with semiconductor shortages and supply chain issues taking a toll on production.

The gains in the Auto sector comes amid the Union Budget outcome where the government steps up to revive the semiconductor issue and push the electric vehicle segment.