5 Minutes Read
Auto, pharma help markets remain in the green, banks lose plot
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The March auto sales have played a huge role today in pulling up the indices with Tata Motors and Maruti Suzuki gaining by over 3% and M&M and Ashok Leyland gaining by over a percent.
The BSE Sensex has gained 100 points with the index reaching 33,135 points and the NSE Nifty has jumped above 10,150 points.
The March auto sales have played a huge role today in pulling up the indices with Tata Motors and Maruti Suzuki gaining by over 3% and M&M and Ashok Leyland gaining by over a percent.
Benchmark indices opened in the green today with the NSE Nifty at 10,150 levels and the BSE Sensex at 33,000 levels.
Though the market went off their opening highs for a brief period, the auto and the pharma stocks helped pull up the market. Sun Pharma and Lupin have gained by over 2% as of yet.
The Nifty Bank index, however, continues to be in the red with the index falling by over 10 basis points. ICICI Bank has recorded a loss of over 6% till now and Axis Bank has fallen over one percent after the buzz of the bank receiving a notice from the central bank.
The Reserve Bank of India has reportedly sent a notice to Axis Bank asking them to reconsider their decision of appointing Shikha Sharma, as the chief executive, for the fourth time. The notice is also believed to have asked the bank to check their bank’s performance in terms of their assets quality. The moves come after the ICICI Bank and the Videocon loan case came to light.
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