Barometers pare gains; Nifty below 24,750; auto shares gear up

The key equity benchmarks reversed all gains and traded with limited cuts in the morning trade. The Nifty traded below the 24,750 mark. Auto shares extended gains for the third consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, declined 50.83 points or 0.13% to 80,613.95. The Nifty 50 index shed 11.55 points or 0.09% to 24,712.35.

The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.17% and the S&P BSE Small-Cap index added 0.38%.

The market breadth was positive. On the BSE, 1,948 shares rose and 1,605 shares fell. A total of 231 shares were unchanged.

Buzzing Index:

The Nifty Auto index advanced 1.34% to 26,342.30. The index rose 2.96% in three consecutive trading sessions.

Mahindra & Mahindra (up 2.08%), Ashok Leyland (up 1.78%), Exide Industries (up 1.74%), Samvardhana Motherson International (up 1.65%), Eicher Motors (up 1.56%), Maruti Suzuki India (up 1.35%), Tata Motors (up 1.18%), TVS Motor Company (up 1.13%), Hero MotoCorp (up 0.89%) and Bharat Forge (up 0.8%) gained.

Stocks in Spotlight:

Transworld Shipping Lines jumped 7.47% after the company announced that its vessel, SSL Sabarimalai, has been released by the Mercantile Marine Department (MMD), Kolkata, and granted permission to sail out from Haldia port.

RPP Infra Projects rose 0.69%. The company received a letter of acceptance (LoA) for an EPC order worth Rs 134.21 crore from Maharashtra State Infrastructure Development Corporation for road improvement works in Raigad district.

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