Sensex Drops in Auto and Metal Stock

Sensex Drops in Auto and Metal StockAccording to reports, Sensex after surging up during early sessions, experienced a fall in auto and metal stocks, as the index dropped to 18,513 and currently traded at 18,565 as well as going down with 53 points from previous close.

Also, European bourses continued to weaken ahead of the release of European bank stress tests results, as CAC and DAX are reported to trade 0.5% down each, as each of the markets in Switzerland and Stockholm dropped b y 1%.

BSE auto index fell by 0.7%, caused by auto major, Bajaj Auto, while the stock dropped 1.2% to Rs 1,414, and Tata Motors along with Hero Honda, each were down by about 2%.

However, Metal shares fell, reflecting shifts in the London Metal Exchange. Shares in the sector currently surged up after China disclosed .strong macroeconomic data and Sterlite fell 1.7% at Rs 164. While Tata Steel was at Rs 572 as it fell by 0.7%.

Moreover, Bombay Stock Exchange benchmark Sensex lost more than 60 points at the closing of the session, owing to profit-booking by funds and retail investors in the midst of the mixed trend in the Asian markets, as 30 shares of BSE index Sensex fell by 60.09 points to 18,558.11 and the 50 shares of NSE index Nifty dropped 17.85 points to 5,581.95.