Shares of tyre manufacturers today fell as yuan weakened against the dollar.
Apollo Tyre fell 3.6 per cent, CEAT fell 0.9 per cent and JK Tyre declined 2.9 per cent.
Tyre makers fell on worries that a cheaper yuan will make Chinese tyre exports more attractive.
China’s onshore yuan softened against the dollar on Monday to its weakest level since April 2011 after the central bank set the guidance rate at a more than 4-1/2-year low.
The offshore yuan weakened and hit its lowest since September 2011 in early trade.