12
NEW DELHI: Most auto stocks were trading with decent gains in Friday's session ahead of Interim Budget 2019.
Market is expecting measures that may give a boost to the auto and auto ancillary sector.
As per the brokerage Karvy Broking, budget allocation for electric vehicle promotion having a timeline for implementation is sought for.
Proper implementation of MSPs for crops is likely to translate into higher tractor sales supported by higher farm income, the brokerage said.
The BSE Auto index was trading 1.75 per cent up at 18,819 around 10:45 am, with shares of Maruti Suzuki India (up 3.67 per cent) and Eicher Motors (up 3.27 per cent) as the top gainers.
Maruti Suzuki's January total sales climbed by 0.2 per cent.
The company reported its January total sales stood at 1,51,721 vehicles against 1,51,351 vehicles last year.
Its January total domestic sales stood at 1,42,150 vehicles against 1,40,600 vehicles last year.
Mahindra Mahindra (up 1.65 per cent), Balkrishna Industries (up 1.56 per cent), Hero MotoCorp (up 1.55 per cent), TVS Motor Company (up 1.46 per cent) and Motherson Sumi Systems (up 1.18 per cent) climbed up to 2 per cent.
Shares of Cummins India (up 0.92 per cent), Exide Industries (up 0.88 per cent), Tata Motors (up 0.66 per cent), Bajaj Auto (up 0.52 per cent), Bosch (up 0.48 per cent), Ashok Leyland (up 0.37 per cent), Apollo Tyres (up 0.29 per cent), MRF (up 0.27 per cent) and Bharat Forge (up 0.15 per cent) too were among the gainers.
Benchmark NSE Nifty50 index was up 38 points at 10,869, while the BSE Sensex was up 138 points at 36,395.
Among the 50 stocks in the Nifty index, 26 were trading in the green, while 24 were in the red.
