Markets closed Flat; Auto, IT Stocks Slip

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The Sensex closed 8 points higher to end the session at 40,802, while the Nifty50 lost 8 points to settle at 12,048.

Bharti Airtel, JSW Steel, Reliance, Grasim and Asian Paints were among the top Nifty gainers, while Yes Bank, Eicher Motors, Infratel, Bajaj Finance, and ONGC lost the most.

The Nifty IT index closed 0.97pc lower to settle at 14,852, led by JustDail, Tata Elxsi, NIIT Tech and Tech Mahindra which were down by 2 to 4.8% in range.

Except for the Nifty Metal which rose marginally higher by 0.27%, all the other sectoral indices ended in the red today.

Auto shares traded in lower circuits with the benchmark Nifty Auto slipping 0.91pc at 8,012.75, on closing as November sales data showed no signs of recovery. Out of 15 Auto constituents, 9 stocks slipped, while 6 advanced.

As many as 9 shares out of fifteen components in the auto index declined with Eicher Motors, TVS Motor, Bosch, Maruti, MRF, Hero MotorCorp, Exide, Bajaj Auto, and Tata Motors declined today.

Eicher Motors slipped 5.2%, while TVS Motors declined 2.5% as the top losers in the index. The Eicher company reported its monthly Volvo Eicher Commercial Vehicles sales at 3,594 units against 4,720 units year on year.

Tata Motors share price closed lower by 0.43% to Rs.160.80 after the company’s total Indian sales in November slipped 25-pc to 38,057 units. To get Stock Tips and Free stock Tips visit our website.

Share of MarutiSuzuki  India also closed in the red at Rs226 per share, down by 2.52% after the company reported 2pc slippage in its total sales in November at 1.5 lakh units.

M&M stock closed higher at Rs534.15, up by 0.68% after the company reported a 9-pc fall in its total sales in November, Y-o-Y.
Bajaj Auto slipped 0.43% to Rs3,162.45after the company’s total sales in November coming in at 4 lakh units, while its total sales fell 13.6pc on YoY basis.

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