Profit booking in the afternoon session drove the benchmark indices lower Wednesday. At 1.55 pm, the Sensex traded 12 points higher at 17,330 while the broader Nifty index traded 2 points lower at 5,246.
The Sensex traded over 100 points lower from the day's high while the Nifty was over 30 points off the intraday high.
Auto stocks were the big underperformers today. The BSE auto index was down 1.2%, the most among the 14-sectoral indices listed on the BSE.
Tata Motors (-3.25%) extended losses and continued to languish at the bottom of the Nifty index. It was also the biggest drag on the Sensex, contributing 22 index points on the downside. Maruti Suzuki (-2.2%), India's biggest car maker, also saw selling pressure. Both firms have reported a decline in April sales. M&M (0.85%) traded higher on the back of strong sales, though the company's tractor sales were below estimates. Hero MotoCorp (0.64%) pared gains ahead of Q4 earnings.
21 of the 50 stocks traded higher on the Nifty index. Bharti Airtel (2.6%), the country's biggest wireless firm, replaced HUL (1.9%) as the top Nifty gainer. Bharti reported a rise in traffic and margins in the fourth quarter ending March 31. However, the company's profit took a hit on account of higher taxes and forex losses. HUL rose after Q4 earnings beat market estimates.
Realty major DLF gained for the third straight day. Earlier, Goldman Sachs had upgraded the stock to buy.
Broader markets also witnessed selling pressure. Over 50% stocks traded lower on the BSE 500 index.
Profit booking in the afternoon session drove the benchmark indices lower Wednesday. At 1.55 pm, the Sensex traded 12 points higher at 17,330 while the broader Nifty index traded 2 points lower at 5,246.
The Sensex traded over 100 points lower from the day's high while the Nifty was over 30 points off the intraday high.
Auto stocks were the big underperformers today. The BSE auto index was down 1.2%, the most among the 14-sectoral indices listed on the BSE.
Tata Motors (-3.25%) extended losses and continued to languish at the bottom of the Nifty index. It was also the biggest drag on the Sensex, contributing 22 index points on the downside. Maruti Suzuki (-2.2%), India's biggest car maker, also saw selling pressure. Both firms have reported a decline in April sales. M&M (0.85%) traded higher on the back of strong sales, though the company's tractor sales were below estimates. Hero MotoCorp (0.64%) pared gains ahead of Q4 earnings.
21 of the 50 stocks traded higher on the Nifty index. Bharti Airtel (2.6%), the country's biggest wireless firm, replaced HUL (1.9%) as the top Nifty gainer. Bharti reported a rise in traffic and margins in the fourth quarter ending March 31. However, the company's profit took a hit on account of higher taxes and forex losses. HUL rose after Q4 earnings beat market estimates.
Realty major DLF gained for the third straight day. Earlier, Goldman Sachs had upgraded the stock to buy.
Broader markets also witnessed selling pressure. Over 50% stocks traded lower on the BSE 500 index.
Profit booking in the afternoon session drove the benchmark indices lower Wednesday. At 1.55 pm, the Sensex traded 12 points higher at 17,330 while the broader Nifty index traded 2 points lower at 5,246.
The Sensex traded over 100 points lower from the day's high while the Nifty was over 30 points off the intraday high.
Auto stocks were the big underperformers today. The BSE auto index was down 1.2%, the most among the 14-sectoral indices listed on the BSE.
Tata Motors (-3.25%) extended losses and continued to languish at the bottom of the Nifty index. It was also the biggest drag on the Sensex, contributing 22 index points on the downside. Maruti Suzuki (-2.2%), India's biggest car maker, also saw selling pressure. Both firms have reported a decline in April sales. M&M (0.85%) traded higher on the back of strong sales, though the company's tractor sales were below estimates. Hero MotoCorp (0.64%) pared gains ahead of Q4 earnings.
21 of the 50 stocks traded higher on the Nifty index. Bharti Airtel (2.6%), the country's biggest wireless firm, replaced HUL (1.9%) as the top Nifty gainer. Bharti reported a rise in traffic and margins in the fourth quarter ending March 31. However, the company's profit took a hit on account of higher taxes and forex losses. HUL rose after Q4 earnings beat market estimates.
Realty major DLF gained for the third straight day. Earlier, Goldman Sachs had upgraded the stock to buy.
Broader markets also witnessed selling pressure. Over 50% stocks traded lower on the BSE 500 index.
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