Auto stocks down today because of profit booking

2 Dec 2022 , 02:04 PM

After the car industry revealed a range of sales figures for November, shares of the sector traded on a shaky note on Friday as investors booked profits.

At 12:19 PM on the National Stock Exchange, Eicher Motors, Mahindra & Mahindra (M&M), and Ashok Leyland were down between two and three percent, while Hero MotoCorp, Bajaj Auto, Escorts, and Maruti Suzuki India (MSIL) were down between one and two %. Compared to other sectoral indices, the Nifty Auto index was the biggest loser, falling 1.1% as opposed to the Nifty ’50s 0.86 percent decline.

The car index was declining for the second day in a row. The Auto index, on the other hand, has increased by 25% since April throughout the last eight months, compared to a 10% growth in the benchmark index.

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