Nifty Auto Gains Over 2%; Nifty IT And Realty Follows In Sectoral Outperformers

In trade on April 20, 2022 after being in a bearish zone, markets have taken a breather with Nifty at 9:43 am notching gains to the tune of 150 points at 17107. Broader markets are in fact performing still better with Nifty Midcap 100 up by over 1%.

Meanwhile, as there is seen further weakness in the markets as depicted in the long bearish candle on the Nifty, most sectoral indices barring Nifty Bank, Nifty financial services and Nifty private bank trade in the green.

And of those in the green, auto pack is the most resilient with gains of over 2%. Further of the 15 constituents that make up the Nifty Auto index 14 stocks have been trading with gains up to 4% as for Eicher Motors. Others gaining by a significant percentage of between 1-3% include Hero Motocorp, Tube Investments, Bosch, MRF, Ashok Leyland among others.

Likewise, Nifty Auto is followed by Nifty IT in the outperforming sectoral indices today that last at around 9:54 am traded with gains of 1.17%. Within the Nifty IT pack, Mphasis leads with gains of over 3%.

Also, in the realty space, the Nifty Realty clocked gains of over 1% with Phoenix leading the 10 stocks index.