Nifty Auto index falls 2% in two days after rallying 13% in October

Maruti Suzuki India, Hero MotoCorp and TVS Motor Company slipped 2 per cent each, while M&M, Eicher Motors, Bajaj Auto and Ashok Leyland were each down 1 per cent today.

Shares of automobiles companies were quoting lower for the second straight day, with the Nifty Auto index falling 2 per cent in first two trading days of November, as investors turned to profit booking.

In the month of October, the auto index outperformed the market by surging 13 per cent on expectations of strong sales during the festive season. In comparison, the benchmark Nifty50 index gained 3.5 per cent during the month.

At 12:47 pm, the Nifty Auto index was down 1.3 per cent, as compared to a 0.24 per cent rise in the Nifty50 index. Maruti Suzuki India, Hero