Nifty Auto, Nifty Realty, Nifty Bank, Nifty Private Bank, Nifty PSU Bank and Nifty Financial Services indices were down in the range of 4 per cent to 5 per cent on the NSE.
The Nifty Auto index has broken key support levels, and looks weak on the weekly charts indicating a downside of 5 per cent.
The Nifty Auto index can rally towards the 12,500-mark on a breakout above 11,900-level; base support seen around the 11,000-mark.
Stocks bearing breakout on moving averages, price strength and technical indicators are ready to see steady upside of up to 9 per cent
Tata Motors holds approximately 12 per cent weight in the Nifty Auto index, and trails Maruti Suzuki and Mahindra & Mahindra
The breakout of "Inverse Head and Shoulder" for the Nifty Auto index hints at bullish scenario for auto stocks, provided the overall market momentum says strong
Maruti Suzuki was the top-performing index stock as it rose over 4 per cent after the company said it would be raising vehicle prices in the July-September quarter
Automobile and financial stocks dominate the list of companies where analysts have scaled back their earnings estimates for FY22
India recorded a massive surge of 1.69 lakh Covid-19 cases in the last 24 hours
The rally in auto stocks may pause for now as demand cools off and companies grapple with supply-side issues, say analysts
Union Minister for Road Transport and Highways Nitin Gadkari's proposal to levy 'green tax' on old vehicles polluting the environment nudged investors to off-load auto stocks from their portfolio
Ashok Leyland, Bharat Forge and Tata Motors from the auto index were down in the range of 3 per cent to 4 per cent.
At 02:50 pm, these three stocks were trading higher in the range of 2% to 4%, as against a 0.75% fall in the S&P BSE Sensex and 0.45% decline in S&P BSE Auto index
Bajaj Auto said the operating performance was driven by favorable mix, lower marketing spends, and operating leverage
Nifty Auto index has jumped 8 per cent on a year-to-date basis in 2021
The medium-term trend of Sensex is bullish till the time it defends 44,000 levels
A strong close above Rs 770 in M&M may trigger a rally Rs 825 levels
Two-wheeler stocks such as TVS Motor, Hero MotoCorp, and Bajaj Auto were among the top gainers on the Nifty Auto index, surging up to 1.6 per cent in the intra-day deals on the National Stock Exchange
For the auto sector as a whole, analysts now expect polarisation to get more entrenched where rural-focused plays like M&M, Escorts etc to do well
Hero MotoCorp sold 13.34 lakh units during the quarter under review, down 25 per cent on YoY basis