Indices trade with decent gains; auto shares edge higher

The key equity indices traded with decent gains in mid-afternoon trade. The Nifty hovered near the 18,100 level after hitting the day's low of 17,967.45 in the morning trade. Auto shares witnessed buying demand for second day in a row.

At 14:31 IST, the barometer index, the S&P BSE Sensex, was up 231.22 points or 0.38% to 60,797.64. The Nifty 50 index added 79 points or 0.44% to 18,093.60.

In the broader market, the S&P BSE Mid-Cap index advanced 0.50% while the S&P BSE Small-Cap index gained 1.25%.

The market breadth was strong. On the BSE, 2512 shares rose, and 959 shares fell. A total of 119 shares were unchanged.

Numbers to Track:

The yield on India's 10-year benchmark federal paper fell to 7.310 as compared with 7.319 at close in the previous trading session.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 82.8300, compared with its close of 82.6500 during the previous trading session.

MCX Gold futures for 3 February 2023 settlement rose 0.27% to Rs 54,822.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.27% 104.03.

The United States 10-year bond yield declined 0.05% to 3.745.

In the commodities market, Brent crude for February 2023 settlement gained 8 cents or 0.09% to $84.58 a barrel.

Buzzing Index:

The Nifty Auto index rose 0.72% to 12,504.85. The index has risen 2.20% in two sessions.

TVS Motor Company (up 2.7%), Tata Motors (up 2.35%), Sona BLW Precision Forgings (up 2.28%), Samvardhana Motherson International (up 2.02%) and Eicher Motors (up 1.38%) were the top gainers.

Among the other gainers were Bajaj Auto (up 1%), Tube Investments of India (up 0.93%), Hero MotoCorp (up 0.64%), Maruti Suzuki India (up 0.52%) and MRF (up 0.29%).

On the other hand, Mahindra & Mahindra (down 0.44%), Bharat Forge (down 0.28%) and Bosch (down 0.25%) turned lower.

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