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Auto, metal stocks slide amid global concerns
Thursday, November 20, 2008 21:05 [IST]

Mumbai: Tracking weak market sentiments, auto and metal stocks today ended in the negative territory on the Bombay Stock Exchange as investors started pulling out money from the market.

The auto index settled 4.14 per cent down at 2,252.97 points, while metal index lost 4.18 per cent at 4,250.49 points on the BSE.

Marketmen said concerns that the bailout bill of the US auto majors are stalled by the Senate and domestic currency depreciation have added to the woes of the investors.

Among the auto stocks, Tata Motors was down by 6.47 per cent at Rs 126.45. The scrip had touched a low of Rs 122 and over six lakh shares got traded. Also Maruti Suzuki closed at Rs 482.85, down 6.52 per cent, after witnessing a low of Rs 468.25.

Besides, stocks of Hero Honda was down by 5.21 per cent, Bharat Forge (8.15 per cent) and Baja Auto (5.41 per cent).

Similarly metal stocks, led by Sterlite Industries which declined 7.96 per cent, also fell in the range of 3-8 per cent.

Meanwhile, Jindal Steel settled at Rs 661.35, down 7.48 per cent in the market, after touching an intra-day low of Rs 638.05.

Among the others stocks, which felt the heat of the plunging market were JSW Steel, which slipped by 7.21 per cent, Sesa Goa (7.47 per cent), Tata Steel (2.44 per cent) and Gujarat NRE Coke (8.24 per cent).

Some of the metal stocks which defied trends are NALCO, which went up 3.63 per cent at Rs 156.90 and Jindal Saw, which gained 0.29 per cent at Rs 274.30.


Source : PTI

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