The Nifty Auto index declined 1% in Wednesday’s late morning session amid heavy selling pressure seen in Tata Motors, Motherson Sumi, Hero MotoCorp, Apollo Tyre, Maruti, MRF, and Ashok Leyland.
Shares of Tata Motors, which declined 5%, was leading the index’s fall. Shares of Motherson Sumi, Hero MotoCorp, and Apollo Tyres also contributed to the fall, declining 2% each. Shares of Maruti, MRF, Ashok Leyland, Exide Industries, and Eicher Motors also dropped 1% each.
Meanwhile, equity benchmark indices pared their early morning gains and are struggling to trade in the green on Wednesday. The Sensex rose 67 points at 38,632 levels and the Nifty rose 23 points at 11,599 level, striving hard to hold level of 11,600.
Besides, the Indian rupee depreciated 26 paise at 69.88 against the dollar compared to its previous close of 69.62/$ amid the strong dollar against its major peers.
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