The key equity barometers traded sideways in mid-afternoon trade. The Nifty traded below the 17,650 level. Auto shares witnessed significant selling pressure.

At 14:26 IST, the barometer index, the S&P BSE Sensex, was up 10.40 points or 0.02% to 59,657.73. The Nifty 50 index declined 1.70 points or 0.09% to 17,622.75.

The broader market, the S&P BSE Mid-Cap index lost 0.54% while the S&P BSE Small-Cap index fell 0.29%.

The market breadth was negative. On the BSE, 1,426 shares rose and 1,974 shares fell. A total of 125 shares were unchanged.

Numbers to track:

The yield on India's 10-year benchmark federal paper declined 0.24% to 7.203 from its previous closing of 7.220 recorded yesterday.

In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 82.14, compared with its close of 82.1750 during the previous trading session.

MCX Gold futures for 5 June 2023 settlement declined 0.78% to Rs 60,030.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 101.91.

The United States 10-year bond yield fell 0.21% to 3.537.

In the commodities market, Brent crude for June 2023 settlement rose 4 cents or 0.05% to $81.14 a barrel.

Buzzing Index:

The Nifty Auto index declined 1.10% to 12,888.80. The index had advanced 0.23% to end at 13,032.35 yesterday.

TVS Motor Company (down 3.19%), Sona BLW Precision Forgings (down 2.7%), Ashok Leyland (down 2.05%), Tube Investments of India (down 1.89%), Tata Motors (down 1.53%), Maruti Suzuki India (down 1.49%), Eicher Motors (down 1.16%), Bharat Forge (down 0.71%), Mahindra & Mahindra (down 0.64%) and Balkrishna Industries (down 0.53%) declined.

On the other hand, Hero MotoCorp (up 0.68%) ,Samvardhana Motherson International (up 0.36%) and Bosch (up 0.13%) advanced.

Stocks in Spotlight:

Rajnish Wellness fell 3.04% after the company reported a net loss of Rs 1.16 crore in the quarter ended 31 March 2023 as against a net loss of Rs 1.93 crore recorded in Q4 FY22. Revenue from operations during the quarter increased by 87% YoY to Rs 5.70 crore.

Angel One declined 2.06% after the company said it is investigating a potential data breach after receiving emails on 20 April 2023 claiming unauthorised access to clients' data.

Bank of Baroda shed 0.87%. The company said that its board approved raising of funds through bonds and certificate of deposits in single or multiple tranches.