Nifty trades below 26,000 level; auto shares decline

The key equity benchmarks traded with moderate losses in the morning trade, retreating after a two-day rally as continued foreign investor selling and lingering uncertainty over a potential U.S. trade deal dampened investor risk appetite.

The Nifty traded below the 26,000 level. Auto shares witnessed profit booking after advancing in the past two consecutive trading sessions.

At 10:30 ST, the barometer index, the S&P BSE Sensex, fell 192.64 points or 0.22% to 85,080.12. The Nifty 50 index lost 67.50 points or 0.26% to 25,978.60.

In the broader market, the S&P BSE Mid-Cap index shed 0.29% and the S&P BSE Small-Cap index added 0.15%.

The market breadth was positive. On the BSE, 1,910 shares rose and 1,811 shares fell. A total of 240 shares were unchanged.

New Listings

Shares of Corona Remedies were currently trading at Rs 1,465.55 at 10:20 IST on the BSE, representing a premium of 38% as compared with the issue price of Rs 1,062.

The stock was listed at Rs 1,452, exhibiting a premium of 36.72% to the issue price.

So far, the stock has hit a high of 1,499 and a low of 1,430.10. On the BSE, over 6.64 lakh shares of the company were traded in the counter so far.

Shares of Wakefit Innovations were currently trading at Rs 179.60 at 10:07 IST on the BSE, representing a discount of 7.90% as compared with the issue price of Rs 195.

The stock debuted at Rs 194.10 on the BSE, marking a marginal discount of 0.46% over the issue price.

So far, the stock has hit a high of 194.70 and a low of 177.25. On the BSE, over 6.59 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Auto index slipped 0.95% to 27,557.45. The index rallied 1.69% in the past two consecutive trading session.

Bharat Forge (down 1.51%), Eicher Motors (down 1.48%), Mahindra & Mahindra (down 1.29%), Tube Investments of India (down 1.19%), Samvardhana Motherson International (down 1.17%), TVS Motor Company (down 1.17%), Bajaj Auto (down 1.02%), Hero MotoCorp (down 0.88%), Exide Industries (down 0.83%) and Tata Motors Passenger Vehicles (down 0.81%) declined.

Stocks in Spotlight:

KEC International advanced 2.43% after the company announced that it has secured new orders worth Rs 1,150 crore across its transmission and distribution (T&D) and civil businesses in India.

Oriental Rail Infrastructure added 0.42%. The company announced that its wholly owned subsidiary, Oriental Foundry, has secured an order worth Rs 1.10 crore from North Western Railway.

Inox Wind (IWL) rose 0.20%. The company announced that it has secured a 102.3 MW order from ABREL EPC, a subsidiary of Aditya Birla Renewables, for the supply of its 3.3 MW wind turbine generators.

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