Nifty trades above 2,050 mark; auto shares rally
Auto shares advanced after declining in the past three consecutive trading sessions.
At 10:25 IST, the barometer index, the S&P BSE Sensex gained 207.02 points or 0.25% to 81,755.75. The Nifty 50 index advanced 64.85 points or 0.26% to 25,071.05.
In the broader market, the S&P BSE Mid-Cap index rose 0.25% and the S&P BSE Small-Cap index jumped 0.28%.
The market breadth was positive. On the BSE, 2,091 shares rose and 1,563 shares fell. A total of 231 shares were unchanged.
Buzzing Index:
The Nifty Auto index jumped 0.80% to 26,957.20. The index declined 1.64% in the past three trading sessions.
Samvardhana Motherson International (up 2.73%), Eicher Motors (up 1.61%), Tata Motors (up 1.29%), Bharat Forge (up 1.13%), Maruti Suzuki India (up 1.09%), Hero MotoCorp (up 0.8%), MRF (up 0.62%), Exide Industries (up 0.56%), Ashok Leyland (up 0.55%) and TVS Motor Company (up 0.54%) advanced.
Stocks in Spotlight:
NLC India advanced 1.09% after the company announced it signed a memorandum of understanding (MoU) with Khanij Bidesh India (KABIL).
Infosys advanced 1.32% after the company said that its board has approved a proposal to buyback of up to Rs 18,000 crore. The buyback offer price is at 19.25% premium to the scrip?s previous closing price of Rs 1509.50 recorded on BSE yesterday. The board has approved the buyback of up to 10 crore equity shares, representing up to 2.41% of total outstanding equity shares. The buyback will be executed via the tender offer route at Rs 1,800 per share, aggregating to a maximum outlay of Rs 18,000 crore.
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