Auto stocks fell over 4 per cent in the early trade on the Bombay Stock Exchange on concerns of fuel price hike due to spiralling
crude oil prices, which hit a 29-month high on Monday.
The US crude has crossed the $106 mark.
Auto major Mahindra & Mahindra (M&M) declined 4.17 per cent to touch an early low of Rs 648 on BSE, thus becoming the worst hit stock among the 30-Sensex scrips.
Tata Motors also fell 3.31 per cent touching a low of Rs 1,131 on the back of profit-taking.
The country's biggest carmaker Maruti Suzuki fell 2.57 per cent, Bajaj Auto 0.79 per cent and Hero Honda 0.30 per cent.
Led by losses in these stocks, the BSE auto index lost 2.32 per cent to trade at 8,919.29.
Meanwhile, the BSE benchmark Sensex was trading lower by 276.42 points at 18,210.03 at 10:10 am.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
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