The BSE auto index fell 2.8 per cent as a record-low rupee was seen raising the cost of imports and royalty payments.
The auto sector has already been pummeled this month because of worries about sales; the sub-index was down 11.6 per cent vs the 7.2 per cent fall on the Sensex as of Thursday's close.
Tata Motors was down 4.7 per cent on continued worries about global sales after it reported flat growth in April. Shares dropped 7.4 per cent on Wednesday alone after the news.
Bajaj Auto fell 3.1 per cent and headed for a second consecutive daily loss, with some analysts citing disappointment over earnings out this week.
Copyright: Thomson Reuters 2012
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
