Market Now: Auto stocks gain; Hero, Maruti among top gainers

NEW DELHI: Shares of Hero MotoCorp (up 0.90 per cent), Maruti Suzuki India (up 0.72 per cent), TVS Motor Company (up 0.72 per cent) and Motherson Sumi Systems (up 0.70 per cent) were trading in green as the Nifty Auto index was trading at 10,920, up 16 points in Thursday's trade around 12 pm (IST).

However, Ashok Leyland (down 0.80 per cent), Tata Motors (down 0.70 per cent), MRF (down 0.53 per cent), Apollo Tyres (down 0.48 per cent) and Mahindra & Mahindra (down 0.29 per cent) were trading in red.

Auto stocks saw a fresh spell of buying today as optimism about policy rate cut after inflation touched a record low prevailed in markets.

After GST became reality, major auto giants have revised the prices of select models, passing on the benefits of GST to customers. Now, a cut in interest rates may bolster the domestic demand further.

Domestic markets opened on a high note, with Sensex touching the 32,000 mark for the first time and the NSE Nifty hit a new peak of 9,886.35.

IT, FMCG, realty, private banks and auto stocks lead the market to the upper trajectory.

Benchmark Nifty50 index was 57 points up at 9,873, while the 30-share Sensex was 214 points up at 32,019 around 12 pm (IST).

In the Nifty50 pack, 38 stocks were trading in green, while 13 stocks were in red.

On BSE, 1,328 stocks were advancing whereas 1,076 stocks were lagging.

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