Sensex, Nifty Dragged Lower By Auto, Commodity Stock: Midday Market Update

India's stock benchmarks were dragged lower by a decline in auto, consumer discretionary, and commodity stocks.

The Sensex declined over 0.85% to 60,515.52 on the BSE, while the Nifty 50 fell by a similar magnitude to 18,003.40 on the NSE. Among the Nifty 50 constituents, 11 stocks rose while 39 declined.

Hero Motocorp Ltd., Bharti Airtel Ltd., Dr Reddy's Laboratories Ltd., Oil and Natural Gas Corporation Ltd. and Hindustan Unilever Ltd. were the top gainers.

While Tata Motors Ltd., Mahindra & Mahindra Ltd., Axis Bank Ltd., Bajaj Finserv Ltd. and SBI Life Insurance Co. were the top laggards on Nifty 50.

The broader indices underperformed their larger peers, with the mid-cap and small-cap gauges falling 1.21% and 1.16%, respectively. The large-cap index almost mirrored its larger peers and declined 0.9%.

All 20 sectoral measures compiled by BSE Ltd. declined, with BSE auto losing over 2%.

The market breadth is skewed in favour of the bears. About 1,140 stocks rose, 2,189 fell and 140 remained unchanged.