Auto stocks faced selling pressure on Tuesday morning amid a broadly cautious market, with the benchmark indices opening flat. The Sensex traded marginally lower at 82,049.88, while the Nifty 50 slipped below the 25,000 mark to 24,932.25, reflecting weak sentiment in financial and automobile sectors.
Top auto losers included:
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Landmark Cars, down 2.36% on BSE
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TVS Motor, falling 1.47%
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Hero MotoCorp, slipping 1.21%
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Eicher Motors, down 1.15%
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Olectra Greentech, declining 1.34%
Market heavyweights like Maruti Suzuki, M&M, and Hyundai also traded lower by nearly 0.75%–1.2%. The broader S&P BSE Auto Index fell 0.53%, underlining the sector-wide downtrend.
Among the few gainers, Tata Motors edged up 0.91%, while Ashok Leyland gained 0.99%, and Force Motors rose 0.62%. Ather Energy and Sharda Motor also traded in the green, showing some resilience amid a weak broader trend.
Auto stocks were reacting to broader profit-booking in the market, especially after recent rallies across sectors. With Nifty Auto having gained significantly over the past few weeks, investors appeared to be locking in gains.
Meanwhile, metal stocks outperformed, with Tata Steel, JSW Steel, and Hindalco posting solid gains. IT major Infosys also supported the index with a near 1% jump, along with Coal India.
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