Market Now: Auto stocks gain; Eicher Motors, MRF among top gainers

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NEW DELHI: Auto stocks Ashok Leyland (up 1.72 per cent), Eicher Motors (up 1.38 per cent), MRF (up 1.11 per cent) and Bharat Forge (up 1.01 per cent) were trading with gains in afternoon trade on Tuesday, keeping the sectoral index up.

The BSE Auto index was trading 0.26 per cent up at 24,653 around 12:20 pm (IST).

Shares of Bajaj Auto (up 0.97 per cent), Tata Motors (up 0.92 per cent), Bosch (up 0.88 per cent), Exide Industries (up 0.77 per cent), Motherson Sumi Systems (up 0.60 per cent), Hero MotoCorp (up 0.52 per cent) and Cummins India (up 0.15 per cent) were also in the green in the auto index.

However, shares of Maruti Suzuki India (down 0.83 per cent) and Mahindra & Mahindra (down 0.65 per cent) were in the red around that time.

Equity benchmarks were in the green as positive sentiment kicked in on better-than-expected macroeconomic data released after market hours yesterday.

The country’s Industrial activity expanded 7.5 per cent in January, up from 7.1 per cent in December. While, the consumer price index (CPI) inflation, fell to four-month low of 4.4 per cent in February.

The gains, however, were capped as other Asian markets remained cautious on weak global cues.

Buying was led by telecom, finance, banking, oil & gas, realty, consumer durables, healthcare, energy, industrials and capital goods sectors.

Benchmark BSE Sensex was up 72 points at 33,990, while the NSE Nifty50 index was up 32 points at 10,453.

Among the 50 stocks in Nifty index, 33 were trading in green, while 17 were in red.

Source: Economic Times