Nifty auto gained nearly 1 percent led by Bajaj Auto and TVS Motor up over 3 percent, followed by Apollo Tyres, Ashok Leyland, Exide, M&M and Hero Motocorp.
The Indian benchmark indices are trading lower on Friday morning with the Nifty50 trading at 11,518, down 18 points, while the Sensex is trading lower by 67 points at 38,175.
Nifty pharma is down over 1 percent led by Sun Pharma down 4 percent on buzz of observations being issued by the US drug regulator for its Halol plant. Cadila Healthcare, Lupin, Glenmark and Divis Lab are the other losers, however Aurobindo Pharma is up nearly 4 percent.
Infosys announced a joint venture with Temasek in Singapore. The joint venture will integrate teams from Infosys and the operations of Temasek’s wholly owned subsidiary in Singapore, Trusted Source Pte, which currently delivers IT services to Temasek and a number of other clients. As part of the transaction, Infosys will acquire a 60 percent stake in the joint venture and Temasek will hold 40 percent.
Nifty bank is down 0.5 percent led by Yes Bank, Axis Bank, SBI, Bank of Baroda and Kotak Mahindra Bank.
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Bajaj Auto, Tata Motors, Wipro, Hero Motocorp and Coal India are the top gainers on the Sensex, while losers include Sun Pharma, Yes Bank, Power Grid, SBI and Maruti Suzuki.
Nifty auto gained nearly 1 percent led by Bajaj Auto and TVS Motor up over 3 percent, followed by Apollo Tyres, Ashok Leyland, Exide, M&M and Hero Motocorp.
Metal also seen some buying interest with NMDC and Welspun Corp up more than 2 percent. SAIL, NALCO, Jindal Steel, Hindalco are other major gainers in the metal space.
The breadth of the market is mixed, with 779 stocks advancing, 787 declining and 494 remaining unchanged. On BSE, 1000 stocks advanced, 851 declined and 95 remained unchanged.