New Delhi, Feb. 21 -- Indian auto stocks came under significant selling pressure in today's trading session, February 21, with the Nifty Auto index dropping 2.9% to touch a 10-month low of 21,435. Fourteen out of 15 constituents of the index traded in the red, with M&M emerging as the biggest laggard, dropping 6%, followed by TVS Motor Company, Samvardhana Motherson, and Tata Motors, which were trading with cuts of 2.5% to 4%.

The index has remained in the red for 11 of the last 14 trading sessions (including today), losing 7.71% of its value. To be precise, the Nifty Auto index has been in a downward trend since October, losing 22% of its value as investor sentiment dampened due to poor sales, weak urban consumer demand, and falling mar...