Stock market live: Hyundai Motor India, Mobikwik, Hero Motocorp hit 52-week low; check details

NIFTY and SENSEX started the week on a positive note. Benchmark NIFTY50 index opened lower but bounced back to make an intraday high of 22,577. Meanwhile, SENSEX traded above 74,200 level.

As of 1:30 pm, NIFTY50 gave up some of its morning gains to trade 102 points higher, or 0.46% at 22,499. The BSE SENSEX also gained 255 points, 0.35%, to 74,084.

The rise in Indian stock benchmarks was noticed after Wall Street rebounded on Friday with the Dow Jones jumping over 670 points, while the S&P 500 and Nasdaq surging more than 2%. Notably, the US Federal Reserve is set to kick off its two-day FOMC meeting on tomorrow, March 18.

The volatility index, or India VIX, also rose 2.1% to 13.56 on Monday. All the sectoral indices were trading in the green, except the NIFTY IT and NIFTY Media indices which slipped over 0.3% each.

Despite the markets turning positive, as many as 350 stocks hit their lowest levels in 52 weeks on Monday, March 17, even as the broader markets traded in the green on the back of positive global cues.

Hyundai Motor India (52-week low: ₹1,595)

Auto stocks have been sluggish over the past couple of weeks after US President Donald Trump criticised India’s high import tariffs on cars, threatening to impose similar levies on Indian goods. Tesla’s upcoming India entry plans are also weighing on India’s auto sector.

One Mobikwik Systems (52-week low: ₹231.1)

Hero Motocorp (52-week low: ₹3,461)

Hero MotoCorp was in the spotlight on Monday as it announced its plans to start the delivery of its latest offerings, the Xpulse 210 and Xtreme 250R, towards the end of this month. Buyers can officially book either of these bikes from March 20, the company informed.

Happiest Minds Technologies (52-week low: ₹640)

Last week, Happiest Minds Technologies’ MD and CFO Venkatraman Narayanan said that the company was closely watching economic conditions in the US as concerns over a potential recession and stagflation affect client decision-making. Narayanan added that companies in the US are cautious, which could impact future business deals.