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| Auto index underperforms Sensex as monsoon concerns rise |
| BS Reporter / Mumbai Aug 10, 2009, 16:31 IST |
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Auto stocks have slipped for the fourth straight day on the back of monsoon concerns.
The BSE auto index finally settled with a 4.5% decline at 5,210. The index slipped 13.5% from this year's highest close of 6,007. On the other hand, the Sensex slipped 5.18% to 15,009 during the period.
Mahindra & Mahindra tumbled over 9% to Rs 758. Hero Honda plunged 3.5% to Rs 1,425. Maruti Suzuki and Tata Motors decreased over 3% to Rs 1,251 and Rs 400, respectively.
Bajaj Auto plunged 9% to Rs 1,069 and Escorts plunged over 5% to Rs 66.
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(Updated 1109 hrs)
The auto index is down 2.4% at 5,326. Earlier in the day, the index had opened at 5,557 and touched a low of 5,311.
The BSE auto index has underperformed the boader market and has declined 11.5% since Tuesday's close of 6,007. Meanwhile, the Sensex has dipped 4.3% in the same period to 15,132.
Mahindra & Mahindra, which produces tractors and will be hit hard by low rainfall, has plunged 5% to Rs 791. Maruti Suzuki has shed 3% to Rs 1,253.
Hero Honda is down 2.2% at Rs 1,449. Tata Motors has slipped 1% to Rs 410.
Escort and Amtek Auto has dipped 2.5% each to Rs 68 and Rs 135, respectively. Bajaj Auto has dropped 1.5% to Rs 1,159.
However, Cummins and Ashok Leyland are up marginally at Rs 290 and Rs 33, respectively.
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