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Nifty Auto Plunges: Key Stocks Tumble on Market Woes
12 Mar
Summary
- Nifty Auto index dropped 3.19% to 25098 points today.
- TVS Motor, Mahindra & Mahindra, and Eicher Motors saw significant declines.
- Despite a monthly drop, the index shows a strong annual gain of 21.00%.
The Nifty Auto index concluded trading today with a significant decline of 3.19%, settling at 25098. This marks a considerable loss over the past month, with the index down 11.00%.
Key automotive stocks were impacted, including TVS Motor Company Ltd, which fell 4.95%, Mahindra & Mahindra Ltd, down 4.32%, and Eicher Motors Ltd, which slipped 3.83%. These movements contributed to the overall negative performance of the sector.
Despite the recent downturn, the Nifty Auto index demonstrates robust long-term performance, boasting a 21.00% increase over the last year. This performance significantly outshines the benchmark Nifty 50 index, which saw a 5.20% surge during the same annual timeframe.
Other market indices showed mixed results, with the Nifty Energy index gaining 1.93% while the Nifty FMCG index dropped 1.77%. The broader market also experienced a decline, as the Nifty 50 slid 0.95% and the SENSEX fell 1.08% today.
