More Stories

Informist, Friday, Apr. 02, 2026

NEW DELHI – Shares of Nifty Auto index constituents are expected to trade lower next week, in line with the bearish sentiment across the broader market, analysts said. The index closed in the red for the second consecutive week.

On Friday, the Nifty Auto index closed 0.6% lower at 24089.65 points. For the week, the index lost just over 1%, underperforming the benchmark Nifty 50 and Nifty 200 indices, which closed 0.5% lower, each.  

"Nifty Auto has shown buying interest from lower levels near the 23400 zone, which is acting as a crucial support and aligns with a previous breakout area," Vatsal Bhuva, a technical and derivatives analyst at LKP Securities, said. "However, the index continues to trade below its short-term moving averages, reflecting underlying weakness and a prevailing downtrend marked by lower highs and lower lows."

Only five companies part of the 15-stock Nifty Auto index – Bosch, Maruti Suzuki India, Sona BLW Precision Forgings, Tube Investments, and Tata Motors Passenger Vehicles – closed higher for the week. Ashok Leyland was the biggest laggard as it fell nearly 9% this week.

"A mild positive divergence is visible, signaling a possible short-term pullback. Immediate resistance is placed around 24200, and a sustained move above this level is needed for any meaningful recovery in the (Nifty Auto) index," Bhuva said.

The auto industry fared rather well in 2025-26 (Apr-Mar), mainly due to the cut in the goods and services tax. The passenger vehicle industry reported a growth of around 7-9% on year in FY26 and is expected to grow 4-6% in FY27, ICRA said in a report on Friday. Growth is expected to moderate because of a high base in FY26 and the inflationary pressures created by the ongoing war in West Asia.

The inflationary pressures are expected to have a broad-based impact on the automobile sector. "There are commodity cost pressures building up – PVs: ~200bp+ and 2Ws: 300bp+ between Sep-2025 and Mar-2026. While dealer feedback is positive, price hikes, fuel price increases and rising inflation pose demand risks in case the war in the Middle East prolongs," Nomura Equity Research said in a report on Friday.

TOP HEADLINES

* Ola Electric cuts Roadster 9.1 price INR 60,000 as cell production ramped up
* PRESS:TVS Holdings boardroom sees discord over company secretary appointment
* PV export growth moderates Mar, cos flag risks from prolonged war in W Asia
* Bosch board to meet Apr 8, mull issue of preference shares
* TVS Motor Mar total sales 519,358 units, up 25% on year
* Maruti Suzuki Mar output up 19% YoY at 231,933 units, led by utility vehicles
* Popular Vehicles' arm begins ops at Jaguar Land Rover's Nagpur facility
* Eicher Motors sells 1.24 mln units of Royal Enfield in FY26, sets record
* Hero MotoCorp total sales growth in Mar slowest in six mos, exports falter
* Rain Ind arm, Green Graphite advance production of EV battery-grade graphite
* Maruti Suzuki's Dzire takes the spot as India's best-selling car in FY26
* Force Motors Mar sales up 13% on year; exports fall 22% due to West Asia war
* Maruti Suzuki Mar despatches up 17% on yr to 225,251 units; FY26 sales up 8%
* Ashok Leyland's total vehicle sales up 5% YoY at 25,381 units in March
* Tata Motors' growth in CV despatches slows to 5-month low in March
* Tata Motors PV's Mar despatches rise 29% YoY, monthly sales growth moderates
* Eicher Motors clocks highest ever monthly CV sales at 13,311 units in Mar
* Ola Electric's daily orders cross 1,000 units in last week of Mar
* M&M's Mar auto despatches grow 21% on year to 99,969 units
* Hyundai Motor Mar despatches up only 2.5% on year as exports fall 10%
* Escorts Kubota flags risks from W Asia crisis; Mar tractor despatches up 7%
* Mar auto despatches seen up in double digits as GST reform benefits sustain
* Hinduja Automotive pledges 18.12% stake in Ashok Leyland to avail loan
* Tube Invest to buy conv pref shrs of INR 2.5 bln of arm Tl Clean Mobility
* TVS Motor launches Apache RTR 310 in Morocco
* Subsidy timelines for 2-, 3-wheelers extended under PM E-Drive scheme
* BNP Paribas buys 376,470 shares in M&M for INR 1.18 bln via block deal
* BNP Paribas buys 0.2% in InterGlobe Aviation via block deal for INR 3.28 bln

Following are the resistance and support levels for key automotive stocks for next week as per calculations based on their prices on the National Stock Exchange:

End

Reported by Anand JC

Edited by Tanima Banerjee

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.