Maruti Suzuki shares gain as demand for small cars shot up on the 1st day of lower GST

Indian equity markets have started the day in red, today, 23^rd September. At 10 a.m. 23^rd September, Nifty 50 is down by 62.85 points or 0.25%. Sensex is down by 152.91 points or 0.19%.

Top gainers & losers

Top 3 gainers at Nifty 50 at this time are Maruti, Eicher Motors and M&M. Top 3 losers at this time are Ultratech Cement, Asian Paints and Titan. Demand for cars, especially small cars, shot up on the very first day of lower GST rates coming into effect. Stocks of Maruti and other automobile structures are therefore gaining today.

Decline more broad based

The decline in the markets today is more broad based. All the broad market indices, except for Nifty Microcap 250 index, are in red at this time. All the sectoral indices, except for Nifty Auto index and Nifty Metal index, are in red at this time. Nifty Auto index is up by 1.11% at this time. Nifty FMCG index is the top sectoral loser. It is down by 0.66%. Nifty IT index is also down by 0.42%.

Market breadth negative

Market breadth is negative at this time, at NSE. 1150 stocks are advancing at this time. 1460 stocks are declining. 73 stocks touched 52-week high today, by this time. 16 stocks touched 52-week low. Volatility has increased further with Nifty VIX index up 1.58% at this time.

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Source: NSE