Nifty Auto index skids 3%; Bajaj Auto, Hero MotoCorp down 6%

At 12:49 pm; Nifty Auto index, top loser among sectoral indices, was down 3 per cent, as compared to 1.2 per cent decline in the Nifty50 index.

Shares of automobiles, mainly two-wheelers, were under pressure on Monday and slipped up to 6 per cent on concerns of festive season failing to boost vehicle demand.

Bajaj Auto and Hero MotoCorp slipped 6 per cent, while TVS Motor Company and Eicher Motors were down in the range of 2 per cent to 4 per cent on the National Stock Exchange (NSE). Motherson Sumi Systems, Tata Motors, Ashok Leyland, Bharat Forge, Balkrishna Industries, Mahindra & Mahindra (M&M) and Bosch from the Nifty Auto index down between 2 per cent to 4 per cent.

At 12:49 pm; Nifty Auto