Auto stocks continue to face selling pressure

R. Y. Narayanan Coimbatore | Updated on March 12, 2018 Published on January 13, 2012

While much of the Nifty stocks remained in the positive territory, auto stocks continued to face selling pressure at a time when market hopes that the softening inflationary pressures would nudge RBI into reversing its hard money stance.

Even the software majors, who took a knock yesterday after Infosys came out with its guidance, seemed to have stabilised with the stocks not shedding much fresh value today.

Hero Motocorp was down by Rs 22.35 to close at Rs 1,790 and Bajaj Auto lost Rs 45.55 to end the day at Rs 1,430.05. Among the four-wheeler manufacturers, Maruti was a big loser, down by Rs 19 at Rs 975.50.

But Tata Motors and M&M made it to the gainers’ list. While Tata Motors edged up by Rs 2.30 at Rs 208.50, M&M moved up by Rs 6 to close at Rs 692.

Software stocks appear to have stemmed their losses. While Infosys shed just Rs 6.25 to close at Rs 2,582, TCS was down by Rs 4.05 at Rs 1,085.45 and HCL Tech ended at Rs 398.50, a loss of Rs 7.25.

But Wipro was a gainer, up by Rs 9.85 at Rs 401.30.

Published on January 13, 2012
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