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Market Now: Auto stocks slide; TVS Motor, Bharat Forge top losers

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Authors: JordanNEW DELHI: Most auto stocks were trading in the red during afternoon trade on Friday.

The Nifty Auto index was trading 0.81 per cent down at 11,359 around 12:10 pm (IST).

Shares of TVS Motor Company (down 2.45 per cent), Bharat Forge (down 2.35 per cent), Motherson Sumi Systems (down 2.21 per cent) and Bajaj Auto (down 2.02 per cent) cracked over 2 per cent. Eicher Motors (down 1.74 per cent), MRF (down 0.95 per cent), Maruti Suzuki India (down 0.64 per cent), Apollo Tyres (down 0.52 per cent), Mahindra Mahindra (down 0.47 per cent), Tata Motors (down 0.27 per cent) and Hero MotoCorp (down 0.11 per cent) were also in the red. However, Amara Raja Batteries (up 0.89 per cent), Bosch (up 0.17 per cent) and Ashok Leyland (up 0.12 per cent) were in the green around the same time. Equity barometer Sensex suffered more losses on selling in IT, pharma, metal, bank, auto and FMCG stocks.

Global cues were also weak as investors eyed the outcome of US-China trade talks, ahead of the US jobs report. The NSE Nifty50 index was down 60 points at 10,619, while the BSE Sensex was 206 points down at 34,897.

Among the 50 stocks in the Nifty index, 13 were trading in the green, while 37 were in the red.

Sun Pharma, Infosys and Bajaj Auto were the top losers in the Nifty index.




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