Nifty Auto index declines 1% led by Maruti, Ashok Leyland

Shares of Maruti Suzuki, Ashok Leyland, Bharat Forge and Hero MotoCorp were down in the range of 2-3% respectively.

Mar 18, 2019 12:03 IST India Infoline News Service

Maruti Suzuki
The Nifty Auto index declined over 1.4% on Monday led by sharp fall in Maruti Suzuki, Ashok Leyland, Bharat Forge, and Hero MotoCorp. The Nifty auto index was trading at 8,622.75.

Shares of Maruti Suzuki slipped 3% on both the indices and are among the top losers amid report stating that the company has slashed its production by a quarter amidst slowing demand in the passenger vehicle market. The company is estimated to have cut production by 26.8% to about 1.26 lakh units.

On the flip side, Tata Motors, Bosch, and Tata Motors DVR were trading in the positive zone.

Meanwhile, equity benchmark indices were trading flat in the noon trade led by Maruti, HDFC, L&T, and TCS.

The Sensex was down 5 points at 38,008, while the Nifty is slightly higher by 6 points at 11,433. The market breadth was negative with 661 shares advancing, 1,028 shares declining, and 409 remaining unchanged.

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