Nifty, Sensex Flat As Autos Surge Further, Financials Fall
The Nifty 50 was up 0.06% at 12,945.75 by 0510 GMT, gaining for a fourth straight session, while the S&P BSE Sensex was down 0.03% at 44,162.76.
Auto stocks gained for a twelfth straight session after Hero MotoCorp reported sales of more than 1.4 million motorcycles and scooters during the festive season, which culminated with Diwali earlier this week.
Hero jumped 3.7%, while 12 of the 15 stocks on the Nifty auto index were also trading higher.
“The kind of auto sales numbers we’re seeing shows that normalcy may be returning quicker than expected,” said Siddharth Sedani, head of equity advisory at Anand Rathi Financial Services in Mumbai.
In Delhi, the tally of cases crossed 500,000 on Thursday, although infections elsewhere in the country continued to fall.
Several U.S. states weighed or implemented shutdown measures, hitting Wall Street and Asian shares.
Financial stocks were the biggest drags on the Nifty 50. Mortgage lender HDFC and ICICI Bank slipped nearly 1.5% each.
Airline SpiceJet, a Boeing customer, jumped 9.4% after the United States lifted a 20-month-old flight ban on the 737 MAX.
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