Bloody Monday! Nifty Auto index slumps by 400 pts; Tata Motors, Ashok Leyland worst hit

MRF and Amara Raja Batteries dips more than 2% trading in the red on the index.

Apr 12, 2021 11:04 IST India Infoline News Service

Amid global cues, except Nifty Pharma, all the sectoral indices were trading in the red. Since the second wave of the pandemic is turning out worse than expected, there is profound uncertainty about its impact on the economy and markets. The lockdown situation in Maharashtra also challenges to the bearish markets.

Nifty Auto was engaged in a bloodbath, dragging the sector most. All the 15 scrips were on a decling side.

At around 11:36 AM, Nifty Auto was trading at 9,521.30 down 401.65 points or 4.05%. The index has touched a high of 9,738.35 and low of 9,431.65 during intraday trade on Monday.
Tata Motors was the top underperformer of Nifty Auto slipping by 7% at Rs295.95 followed by Ashok Leyland and Motherson Sumi diving by 5.8% and 5.2% respectively.
Heavyweight stocks like Hero Motocorp, Mahindra & Mahindra, Bal Krishna Industries recorded 4% drop each. Bajaj Auto also plunged by near 4% at Rs3,515.20 per piece.

Exide and Maruti Suzuki led the way with 3.5% and 3.2% losses respectively.

TVS Motor extended the losses by tumbling 3% at Rs550.10 per piece.

Eicher Motors (-2.92%), Bharat Forge (-2.74%), Bosch (-2.40%) were trading on a bearish note.

MRF and Amara Raja Batteries dips more than 2% trading in the red on the index.

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