A $42 Billion Slump Makes Auto Stocks the Worst Sector in India
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India’s car stocks have lost $42 billion in value in the last 16 months, and some analysts say the rout may not be over.
A gauge of automobile companies has fallen 30 percent since reaching a record in December 2017, and is the worst-performer among 19 sector indexes in the nation’s equity market this year. That’s as the benchmark S&P BSE Sensex Index rallied to a fresh peak last month.