Nifty Auto News Today

Analysts are bearish on auto stocks despite robust fiscal fourth quarter results due to weak outlook on volumes growth, intensifying competition, margin pressures in electric segment and rich valuations.

The Nifty Auto index was trading 0.65 per cent up at 23622.85.

The broader market saw selling pressure, with the BSE Midcap and BSE Smallcap indices falling 0.6 percent and 0.3 percent, respectively.

The Nifty Auto index closed 0.22 per cent down at 23419.6.

Nifty Auto and Nifty Metal have shown strong performance in 2024 YTD, outperforming the benchmark. Experts favor auto over metals for long-term investment due to growth potential, innovation, and less impact from global factors.

IMD predicts above-average monsoon rainfall in 2024, impacting equity and commodity markets. Normal monsoon crucial for inflation rates and agricultural sector, affecting supply of food and rural income. FMCG and automobile sectors to benefit from good monsoon predictions.

The Nifty Auto index was trading 0.54 per cent down at 23685.5.

The Nifty Auto index was trading 0.42 per cent up at 23976.7.

On the stock-specific front, the market expert selected Indian Overseas Bank as his top pick from the banking sector.

Auto stocks have surged due to robust sales expectations in FY25, driven by a revival in the rural market and stable raw material prices. Two-wheeler market may outshine other segments. Experts anticipate continued growth in the medium-to-long term, with positive outlook for auto companies.