INSUBCONTINENT EXCLUSIVE:
Authors: TheIndianSubcontinent News AgencyNEW DELHI: Most auto stocks closed Wednesday's session in the negative terrain, erasing all gains
of the early session of trade.
Auto stocks saw decent traction during the morning trade on Wednesday on strong April sales numbers
However, the gains proved to be short-lived and a majority of auto stocks had turned red by the end of the day's trade.
TVS Motor Company
(down 4.32 per cent) led the pack of losers in the index
It was followed by Eicher Motors (down 2.14 per cent), Hero MotoCorp (down 1.83 per cent), Ashok Leyland (down 1.82 per cent), Apollo Tyres
(down 1.41 per cent), Tata Motors (down 1.28 per cent), Mahindra Mahindra (down 1.16 per cent) and Maruti Suzuki India (down 0.80 per
cent).
The Nifty Auto settled 1.01 per cent down at 11,508 on Wednesday.
Meanwhile, shares of Amara Raja Batteries (up 2.88 per cent), Bosch
(up 0.65 per cent), Bajaj Auto (up 0.45 per cent) and Exide Industries (up 0.10 per cent) closed the day in the green.
The 50-share Nifty
pack closed the day 21 points, or 0.20 per cent, down at 10,718, while the BSE Sensex clocked nominal gains of 16 points, or 0.05 per cent,
ending at 35,176.
Among the 50 stocks in the Nifty index, 15 closed the day in the green, while 35 in the red.
Kotak Mahindra Bank, Zee
Entertainment Enterprises and ITC led the pack of Nifty gainers.
On the other hand, Vedanta, HCL Technologies and Hindalco stood among the
top losers in the Nifty index.
