Auto stock Slip after SIAM Sales data

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Shares in Auto companies continue to fall in the afternoon session as part of market volatility.

At around 2.30-pm, the Sensex slipped by 241-pts at 40246 and the Nifty stood at 11863, down 73 points, while the Nifty Auto index traded 0.86% lower at 7,795.50 with all components, except Eicher Motors, slipped into the red.

The fall in Auto stocks came out after declines in auto-sales data declared by the Society of Indian Automobile Manufacturers (SIAM).
According to SIAM, Indian passenger vehicle sales declined by 0.84-pc to 2.63-lakh-units in Nov 2019 from 2.66-lakh units in Nove2018.

Similarly, car sales were down 10.83% to 1.60 lakh units, total two-wheeler sales in November declined 14.27% to 14.10 lakh units commercial vehicles sales were down 14.98% to 61,907 and Vehicle sales across categories registered a decline of 12.05% to 17.92 lakh units.To get Stock Tips and Free stock Tips visit our website.

Consequent ib releasing the data by the Industry Body, shares of Apollo Tyres went down 3.82%, Hero MotoCorp, down by 1.93%, Motherson Sumi Systems lost 1.86%, Exide Industries slipped 1.71%, Bosch went down by 1.59% and Mahindra and Mahindra slipped 1.47% as the top losers.

In Addition, Ashok Leyland, TVS Motors, MRF, Maruti Suzuki, Tata Motors, Bharat Forge, Amaraja Batteries and Baja Auto recorded their respective minimum level falls in the Auto index.

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