Stock Market Updates: Sensex, Nifty Slip; Auto Stocks Rally

The Indian stock market after 5 consecutive days of gains has taken a breather and was trading in the red. At 12:26 PM, Sensex shed 102 points at the 72308 mark while Nifty was down 33 points and was trading at the 21745 mark.

Around 1316 stocks advanced and 1100 stocks declined while 112 remained unchanged.

Among the sectors, the auto index outperformed, jumping over 1 percent. The top gainers included Tata Motors, Ashok Leyland, and Motherson Sumi Systems which jumped 3-4 percent. MRF and Balkrishna Industries followed suit.

Also read: Kaushalya Logistics IPO: Check Price Band, Issue Size & More

The FMCG sector witnessed investor activity with noticeable buying. The top gainers were Emami and Tata Consumer Products which gained 3-4 percent each. These were followed by Dabur India, Godrej Consumer, and Proctor & Gamble.

Top Nifty50 Gainers

Top Nifty50 Losers

Stocks in the news:

Kotak Mahindra Bank:

After the assistant commissioner of central goods and service tax (GST) and excise issued a show-cause-cum-demand order, the stock started trading in the red. The order imposed a cumulative Rs 57.20 lakh for central goods and services tax (CGST), along with applicable interest and a penalty of Rs 5.1 lakh.

Shakti Pumps:

After receiving a fresh order from the Haryana Renewable Energy Department (HAREDA), the stock price surged by 4 percent. The work order’s total amount stands at around Rs 258 crore, inclusive of GST.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.