Auto stocks suffer setback,M&M leads

Auto stocks,led by Mahindra & Mahindra,received a severe drubbing on the BSE.

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Auto stocks,led by Mahindra & Mahindra (M&M),received a severe drubbing on the Bombay Stock Exchange,due to lack of buying by investors.

Shares of M&M plummeted by 5.97 per cent–the most among the frontline stocks–to close at Rs 628.65 on the bourse. In intra-day session,the scrip had lost 6.51 per cent to touch a month’s low of Rs 625.

Hero Honda Motors,Tata Motors and Maruti Suzuki were among others who ended the day in the red.

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Two-wheeler major Hero Honda fell sharply by 4.06 percent,while Tata Motors went down by 2.86 per cent and the country’s largest carmaker Maruti Suzuki fell by 1.25 per cent.

Bucking the trend,Bajaj Auto,however,rose by 1.69 per cent.

Meanwhile,in a volatile session,the BSE barometer index Sensex closed at 17,775.70,down 261.49 points after opening the trade with a gain of over 100 points.

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