The domestic equity barometers came off the day's low in mid morning trade. The Nifty regained the 15,500 mark. Auto shares advanced after declining in the past two sessions.
At 11:21 IST, the barometer index, the S&P BSE Sensex, was down 291.39 points or 0.56% to 51,643.49. The Nifty 50 index lost 62.15 points or 0.40% to 15,512.70.
In broader market, the S&P BSE Mid-Cap index gained 1.09% while the S&P BSE Small-Cap index rose 0.97%.
The market breadth was strong. On the BSE, 1883 shares rose and 952 shares fell. A total of 164 shares were unchanged.
Buzzing Index:
The Nifty Auto index rose 0.34% to 10,493.15. The index had declined by 0.50% in the past two sessions.
Bharat Forge (up 1.78%), Ashok Leyland (up 0.86%), Maruti Suzuki (up 0.56%), Tata Motors (up 0.41%), TVS Motor Company (up 0.36%) and Bajaj Auto (up 0.24%) advanced while Mahindra & Mahindra declined 0.22%.
Hero MotoCorp rose 0.12% at Rs 2,980. The two-wheeler major's total two-wheeler sales increased 62.44% to 1,83,044 units in May 2021 as against 1,12,682 units in May 2020. On a sequential basis, the company's total sales declined 50.83% in May 2021 compared with 372,285 units sold in April 2021.
Eicher Motors added 0.48% to Rs 2,678.60. Total Royal Enfield motorcycle sales jumped 43% to to 27,294 units in May 2021 as against 19,113 units sold in May 2020. On a sequential basis, total motorcycle sales dropped 49% in May 2021 as against 53,298 units in April 2021.
Global Markets:
Asian stocks were mixed on Wednesday. South Korea's consumer inflation accelerated to a more than nine-year high in May. Consumer prices rose 2.6% in May from a year earlier, government data showed on Wednesday, logging the fastest growth since April 2012. It grew 2.3% in April.
U.S. stocks finished Tuesday almost flat as optimism about the economic reopening met lingering angst about inflation and price pressure.
Investors began the first week of June on a high note as Covid cases continue to decline and vaccinations rise in the U.S. In a major milestone, more than half the U.S. population has received at least one dose of a Covid vaccination, according to data posted by the Centers for Disease Control and Prevention.
Growth in U.S. manufacturing picked up in May. The Institute for Supply Management, a trade group of purchasing managers, said Tuesday that its index of manufacturing activity rose in May to a reading of 61.2 in May from 60.7 in April.
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