Mumbai: Auto stocks slipped in the morning trade on Thursday following a steep hike in petrol prices that triggered investor fears that vehicle sales may be hit.

Carmaker Maruti Suzuki India was the biggest loser from the 30-scrip Sensex pack - shedding 2.98 percent to Rs 1,116.90 on the BSE.

Among motorcycle makers, Bajaj Auto was down 2 percent and Hero MotoCorp - 1.59 percent.

Led by losses in these stocks, the BSE auto index was quoting at 9,076.96, down 0.69 percent.

"Auto stocks fell on worries that petrol hike could mar growth," CNI Research CMD Kishore Ostwal said.

Petrol price has been hiked by Rs 7.54 per litre, the steepest hike in petrol price ever, the previous increase being Rs 5 per litre.

In Delhi, the price has been hiked by Rs 7.54 per litre to Rs 73.18 a litre. In Mumbai petrol will cost Rs 78.57 per litre as against Rs 70.66. In Kolkata, Rs 77.88 per litre and Chennai Rs 77.53 a litre.

Meanwhile, in the broader market, the BSE benchmark Sensex was trading at 16,040.42, up 92.32 points at 1130 hrs.

(Agencies)

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