Market Now: Auto pack lurches lower; Tata Motors, M&M among top losers

May 18, 2018

NEW DELHI: Auto stocks TVS Motor Company (down 3.71 per cent), Tata Motors (down 2.94 per cent), Ashok Leyland (down 2.92 per cent) and Mahindra Mahindra (down 1.89 per cent) were suffering losses during afternoon trade on Friday.

The Nifty Auto index was trading 1.08 per cent down at 11,034 around 01:40 pm.

Motherson Sumi Systems (down 1.88 per cent), Maruti Suzuki India (down 1.16 per cent) and Exide Industries (down 0.91 per cent) were also among top losers in the auto pack.

Shares of Amara Raja Batteries (down 0.65 per cent), Bharat Forge (down 0.59 per cent), MRF (down 0.17 per cent) and Bosch (down 0.14 per cent) were also in the red.

Meanwhile, Bajaj Auto (up 1.80 per cent), Eicher Motors (up 0.40 per cent) and Hero MotoCorp (up 0.19 per cent) were up around that time.

Equity benchmarks were in the negative territory amid mixed global cues. Surging crude oil prices and falling rupee hit the risk appetite of investors.

The NSE Nifty50 index was down 65 points at 10,618, while the BSE Sensex was 239 points down at 34,911.

Among the 50 stocks in the Nifty index, 13 were trading in the green, while 37 were in the red.

Bajaj Finance, Tech Mahindra and Bajaj Auto were among top gainers, while Adani Ports Special Economic Zone, Tata Motors and ICICI Bank were among top losers in the Nifty index.

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