Benchmarks erase all gains; auto shares slide

The headline equity indices pared all gains and traded with modest losses in mid-afternoon trade. The Nifty traded below the 23,000 level after hitting days high of 23,144.70 in mid-afternoon trade. Auto shares extended losses for the third day in a row.

At 14:26 IST, the barometer index, the S&P BSE ,Sensex, declined 301.99 points or 0.39% to 75,999.25. The Nifty 50 index lost 85.65 points or 0.37% to 22,986.15.

The broader market underperformed the frontline indices. the S&P BSE Mid-Cap index fell 0.96%, and the S&P BSE Small-Cap index dropped 1.13%.

The market breadth was weak. On the BSE, 1,315 shares rose and 2,605 shares fell. A total of 107 shares were unchanged.

 

Buzzing Index:

The Nifty Auto index dropped 1.07% to 22,331.80. The index slumped 4.80% in three consecutive trading sessions.

Mahindra & Mahindra (down 3.35%), Hero MotoCorp (down 1.77%), Eicher Motors (down 1.63%), Apollo Tyres (down 1.21%), Balkrishna Industries (down 1.17%), Bharat Forge (down 1.11%), Bajaj Auto (down 0.68%), Maruti Suzuki India (down 0.51%), Samvardhana Motherson International (down 0.47%) and TVS Motor Company (down 0.40%) declined.

On the other hand, Ashok Leyland (up 4.14%), MRF (up 0.49%) and Exide Industries (up 0.39%) edged higher.

Numbers to Track:

The yield on India's 10-year benchmark federal paper was up 0.04% to 6.808 as compared with previous close 6.806.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 86.8650, compared with its close of 86.7950 during the previous trading session.

MCX Gold futures for the 5 April 2025 settlement fell 0.41% to Rs 85,176.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.02% to 107.95.

The United States 10-year bond yield added 0.22% to 4.547.

In the commodities market, Brent crude for April 2025 settlement lost 67 cents or 0.87% to $76.33 a barrel.

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