Auto stocks were in trouble on the BSE for the 3rd consecutive session. The Auto index traded low by 203.59 points on the Sensex.
Chief losers on the index remained Maruti Suzuki, Ashok Leyland, Bajaj Auto, M&M and Tata Motors. MRF, Escorts, Bharat Forge, Exide Industries, Hero Honda, Amtek Auto and Apollo Tyres were the other losers.
Of late, the auto sector’s viewpoint has changed severely with ongoing sound sales increase. Further, the low base result from 2008 will make sure even bigger level of development. The augmented portion to the rural division in the present Union Budget will also assist in enhancing the rural sales which have emerged as a savior for both the auto industry and the broader financial system.