Auto stocks skid ahead of RBI policy outcome, Nifty Auto index slips 1.6%

The Nifty Auto index fell as much as 1.64 per cent to 9061 level so far in intra-day trade, weighed by shares of Bharat Forge, Tata Motors and Ashok Leyland

Shares of rate sensitive automobile stocks were in focus on Wednesday ahead of the outcome of Reserve Bank of India's (RBI) bi-monthly monetary policy, with the Nifty Auto index falling as much as 1.64 per cent to 9061 levels so far in intra-day trade, weighed by shares of Bharat Forge, Tata Motors and Ashok Leyland.

Tata Motors fell as much as 3.15 per cent to Rs 170 in intra-day trade on the BSE after S&P Global Ratings lowered the credit rating of Tata Motors and its luxury car unit Jaguar Land Rover Automotive Plc (JLR), citing weaker-than-expected profitability at JLR.