Nifty Auto Skid Over 1%; Tata Motors Down 4%

The Nifty Auto index fell more than 1%, pulled down by Tata Motors, which fell more than 5% after reporting poor March quarter earnings. The Nifty Auto index is currently trading at 10,273.20, down 0.49percent or 50 points.

The BSE Sensex fell 26.1 points to 50,166 points, while the Nifty dropped 8 points to 15,099 points.

The NIFTY Auto Index is intended to represent the performance and behaviour of the Indian automotive industry. With a base date of January 1, 2004, and a base value of 1000, the NIFTY Auto Index is calculated using the free float market capitalization process.

Tata Motors shares are down over 5% on the Nifty Auto index, led by M&M, which is down over 1.9 percent. Ashok Leyland, MRF, Motherson Sumi, and Maruti are also in the red.

On Wednesday, the equity index fell due to selling pressure in banking and auto stocks. The market's mood was also affected by the decline in Asian stocks.