A strengthening rupee and robust foreign fund inflows further buoyed sentiment, traders said
While M&M closed at Rs 705.6 a piece, up 10.8 per cent - the highest in 18 months, Tata Motors' shares ended at Rs 173.6, a piece up 9.8 per cent-the highest in 33 months
Two-wheeler stocks such as TVS Motor, Hero MotoCorp, and Bajaj Auto were among the top gainers on the Nifty Auto index, surging up to 1.6 per cent in the intra-day deals on the National Stock Exchange
Besides the so-called technical factor, analyst also attribute the current rally to an attractive valuation, prompting investors to buy these stocks
Two-wheeler stocks look good on the charts from a medium-term perspective. Here are the key levels you need to keep a tab on.
Jump in European electric car sales, better utilisation of facilities should help improve sales and profitability
Domestic institutional investors have raised their weights to the sector
The RBI will constitute an Expert Committee which shall make recommendations on the required financial parameters, along with the sector specific benchmark, to be factored into debt resolution plans
For the auto sector as a whole, analysts now expect polarisation to get more entrenched where rural-focused plays like M&M, Escorts etc to do well
Maruti on Saturday announced it had sold 108,000 units in July, 88.2 per cent more than June 2020
In the past two months, the Nifty Auto index has outrun the benchmark index by surging nearly 13 per cent till Monday as against 4.5 per cent rise in Nifty
Company's prospects dented by lack of firm demand trend
In May, the S&P BSE Auto index gained 5.6 per cent as compared to 3.8 per cent decline in the S&P BSE Sensex.
Markets couldn't hold the strength during the day as selling pressure was witnessed in heavy index
The Nifty Auto index fell 7.33 per cent as compared to 5.1 per cent decline in the Nifty50 index
The weight of FMCG, software and pharma companies in Nifty now at 31.5% from 25.3% in December 2017
Private sector lender IndusInd Bank has caught the fancy of overseas investors
At the index level, the Nifty Auto index was down 1.4 per cent as compared to 1.3 per cent decline in the Nifty50 index
Eicher Motors, Bharat Forge, M&M, Maruti Suzuki and Hero MotoCorp slipped more than 5 per cent on the NSE today
Bharat Forge slipped 12 per cent from its intra-day high of Rs 298 on the NSE