Auto stocks turned bearish on Thursday after engaging in a subdued trade in the first three days of this week. The index is facing a pause after corrections last week on spurt in stock prices on quarterly earnings and months sales.
At around 11.56 am, Nifty Auto was trading at 10,895.40 down 80.05 points or 0.73%, touching a low of
10,865.55 during morning trade on Thursday.
Ashok Leyland shed 2% at Rs129.55 per piece on Thursday after emerging among the biggest gainers in the sector on Wednesday.
Eicher Motors was also 1.60% down at Rs2,652.30 per piece while
Mahindra & Mahindra also sank 1.48% at Rs901.40 per piece.
Motherson Sumi halted five-day winning streak on quarterly earnings to go down 1.41% at Rs223.95 per piece.
Tyre company Balkrishna Industries also shed 1.38% to emerge among the major laggards in the sector.
Tata Motors, TVS Motor and Bajaj Auto also were tradind around 0.60% lower. Bharat Forge, Maruti and Hero MotoCorp was also marginally lower.
Exide was the major gainer at Rs210.55 per piece up 0.50%. Amaraja Batteries stock was also marginally higher.
Nifty Auto had 2 advances and 13 declines on Thursday.
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