Meanwhile, the BSE Sensex was up 46.03 points, or 0.17%, to 27,719.63.
Tata Motors (down 0.58%), Mahindra & Mahindra (M&M) (down 1.12%), Maruti Suzuki India (down 0.11%), Eicher Motors (down 1.51%), Hero MotoCorp (down 0.16%), Bajaj Auto (down 0.74%) and TVS Motor Company (down 0.12%) declined. Ashok Leyland rose 0.31%.
PSU OMCs increased petrol and diesel prices with effect from midnight 15 October 2016/16 October 2016. PSU OMCs announced increase in selling price of petrol by Rs 1.34per litre (excluding state levies) and increase in selling price of diesel by Rs 2.37per litre (excluding state levies).
Hike in fuel prices have negative impact on customers' buying decision of vehicles.
The BSE Auto index had outperformed the market over the past one month till 14 October 2016, rising 0.8% compared with Sensex's 2.46% fall. The index had also outperformed the market in past one quarter, gaining 11.5% as against Sensex's 0.96% decline.
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