Nifty Auto Falls Nearly 8% in a Month: Should investors worry about auto stocks?
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The Nifty Auto index fell 580.15 points, or 2.27 per cent, to 25,011.10 on Wednesday.
- ✓Many major stocks like Sona BLW Precision Forgings and Eicher Motors fell as investors reacted to market trends.
- ✓Despite this, vehicle registrations showed growth during the festive season, and Citi said Indian automobile demand remained supportive.
Story at a Glance
- Category
- MARKET
- Reported By
- Zee Business
- Reading Speed
- 6 Minute(s)
- Market Focus
- India Economy
The Nifty Auto index fell over 2 per cent on Wednesday. Image Credit: Magnific/Canva
The Nifty Auto index fell over 2 per cent on Wednesday, with automobile stocks declining despite growth in vehicle registrations during the initial phase of the festive season.
The index fell 580.15 points, or 2.27 per cent, to 25,011.10, as of 1:40 PM. Sona BLW Precision Forgings, Eicher Motors, TVS Motor Company, Uno Minda and Bosch were among the major laggards in the index.
Vehicle registration data for the first seven days of the ongoing festive season showed growth across two-wheelers, passenger vehicles, trucks and tractors. According to a Jefferies report, two-wheeler registrations rose 23 per cent year-on-year, while passenger vehicle registrations increased 7 per cent during the period.
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