Nifty Auto hits 6-year low; Maruti tumbles 11%, Ashok Leyland plunges 19%

Post the coronavirus outbreak, the correction in the auto index is now closer to that witnessed during the 2008 Global Financial Crisis (GFC) period, said HDFC Securities

Shares of auto companies were trading with up to 19 per cent cut on the NSE on Thursday as panic selling continued amid growing fears of economic dislocation due to pandemic Coronavirus (Covid-19).

Nifty Auto index hit a six-year low today. At 10:33 am, the index was trading 7.5 per cent lower at 5,102 levels with 14 out of 15 components declining. In comparison, the benchmark Nifty50 index was hovering around 8,000 levels, down 466 points or 5.5 per cent. 

Among stocks, Ashok Leyland bled the most - falling up to 19 per cent in the trade. Bharat Forge, Maruti