Due to the Covid second wave impact, India has been an underperformer in April month. The market is seeing ups and downs led by uncertainity in the economic recovery going forward.
In the last 24 hours, India recorded 3,14,835 new covid cases with 2,104 deaths. This led total count to 1,59,30,965 with a toll of 1,84,6571,84,657.
At around 11:30 AM, Nifty Auto was trading at 9,573.75 down by 56.95 points or 0.59%. The index has touched an intraday high and low of 9,593.65 and 9,503.80 respectively during early trading hours.
On Thusday trading window, Nifty Auto dragged the Nifty 50 down as the sector reports only 3 advancing scrips and 12 declining scrips.
Mahindra & Mahindra was the top underperformer of Nifty Auto slipping by 2.3% at Rs792.45 followed by
TVS Motor and Bal Krishna Industries diving by 1.2% and 1.1% respectively.
Heavyweight stock like
MRF (-0.8%), Maruti Suzuki (0.5%),
Bosch(0.4%) was also trading in the red.
Exide and
Amara Raja Batteries led the way with dropping by nearly 1% each.
Hero MotoCorp was performing on a bearish note at Rs2,808.85 per piece tumbling by 0.5% on the index. Recently, Hero MotoCorp has decided to proactively halt operations temporarily at all of its manufacturing facilities across the country, including its Global Parts Center (GPC), in view of the ongoing escalation in the spread of Covid-19 across the country.
However,
Bajaj Auto was performing in the green up by 1.36% at Rs3,650 per piece.
While, Motherson Sumi was 0.8% on the upside followed by
Ashok Leyland, advanced by 0.4% at Rs113.35 per piece.