Nifty Auto nosedives 3.5% with all stocks in deep red; Tata Motors, Maruti, M&M, MRF, Hero MotoCorp worst hit

Tata Motors was the top laggard tumbling by 5.07% at Rs467.75 per piece.

Nov 26, 2021 10:11 IST India Infoline News Service

Sensex Descent graph
Nifty Auto stocks were in a bloodbath on last day of this week's trading session as massive selling pressure seen on the markets. Equity benchmarks witness a disturbing trend going on which offset the gains of the sector. All the stocks traded with negative bias. The index shed almost 3.5% with heavyweights Maruti, Bharat forge, Tata Motors dropping the most percentage amid bearish markets tone.

Also, re-emergence of Covid cases all over the countries is the major concern for the investors while news about renewed lockdown restriction in the states and decline in the already recovering business activities led to investors mood bearish for the markets.

At around 10:40 AM, Nifty Auto was trading at 10,849.20 down by 398.55 points or 3.54%. The index has touched an intraday high and low of 11,159.60 and 10,824.35 respectively during early trading hours on Friday.

BSE Sensex gave up 58k and was trading at 57,459.31 down 1335.78 points or 2.27% and Nifty50 at 17,141.95 down 394.30 points or 2.25%.

On the trading window, Tata Motors was the top laggard tumbling by 5.07% at Rs467.75 per piece followed by Bharat Forge diving by 4.05% at Rs705.25 per piece. 

Maruti Suzuki, Ashok Leyland and M&M slipped more than around 4% each. While Balkrishna and Bosch shed 2.79% and 2.78% respectively. Tube Investments India fell by over 2.5%.

Stocks like TVS Motor (-2.32%), Eicher Motors (-2.19%), HeroMotocorp (-1.98%), Exide (-1.59%), MRF (-1.16%) witnessed huge fall in the index.

Heavyweight Bajaj Auto also plunged over 1% at Rs3,356.05 per piece while Amara Raja Batteries pares early gains to trade marginally down. 

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