Indices trade with minor cuts; Nifty hovers below 18,150

The benchmarks indices continued to trade with minor losses in the morning trade. The Nifty hovered below the 18,150 mark. Auto shares snapped its six day rising streak.

At 10:30 IST, the barometer index, the S&P BSE Sensex, was down 102.89 points or 0.17% to 60,018.46. The Nifty 50 index gained 19.45 points or 0.11% to 18,125.95.

In the broader market, the S&P BSE Mid-Cap index gained 0.26% while the S&P BSE Small-Cap index rose 0.50%.

The market breadth was strong. On the BSE, 1931 shares rose and 1210 shares fell. A total of 152 shares were unchanged.

Results Today:

Adani Transmission (down 0.67%), Dalmia Bharat (down 0.05%), EIH (up 1.67%), Firstsource Solutions (up 0.90%), Gravita India (up 1.37%), Gati (up 0.57%), Grindwell Norton (down 0.04%), Jamna Auto Industries (up 0.26%), JK Paper (up 0.08%), Jindal Stainless (up 1.12%), Kajaria Ceramics (down 1.22%), KSB (up 0.87%), Mahindra & Mahindra Financial Services (down 2.93%), MAS Financial Services (up 1.14%), Mahindra Holidays & Resorts India (up 0.55%), MTAR Technologies (up 0.78%), PDS (up 1.54%), Redington (up 2.47%), Relaxo Footwears (up 0.50%), Share India Securities (up 2.29%), SIS (up 0.26%), Triveni Turbine (up 2.14%) will announce their quarterly earnings later today.

Buzzing Index:

The Nifty Auto index declined 0.61% to 13,335.35, snapping its six days gaining streak. The index has added 5.68% in six sessions.

Among the components of the Nifty Auto index, Eicher Motors (down 1.75%), Maruti Suzuki India (down 1.43%), Hero MotoCorp (down 1.24%), TVS Motor Company (down 1.23%) and Bajaj Auto (down 0.64%) Samvardhana Motherson International (down 0.38%), Bosch (down 0.31%), MRF (down 0.3%), Sona BLW Precision Forgings (down 0.07%) and Mahindra & Mahindra (down 0.01%) were the top losers.

On the other hand, Bharat Forge (up 1.35%), Tube Investments of India (up 0.63%) and Tata Motors (up 0.61%) edged higher.

TVS Motor Company fell 1.23%. The company said that it had registered a growth of 2% with sales increasing to 360,288 units in October 2022 from 355,033 units in October 2021. Total two-wheelers registered sales rose by 1% to 344,630 units in October 2022 from 341,513 in October 2021. Domestic two-wheeler sales accounted for 80% of the total two-wheeler sales and recorded a growth of 7% on YoY basis.

Eicher Motors declined 1.75%. The auto major's total motorcycles sales jumped by 86% to 82,235 units in October 2022 from 44,133 units sold in October 2021. While sales of motorcycle models with engine capacity up to 350cc doubled to 74,828 units, sales of motorcycle models with engine capacity exceeding 350cc rose 10% to 74,828 units in October 2022 over October 2021.

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