NEW DELHI: Auto stocks were trading in the positive territory after the Reserve Bank of India announced an increase in the repo rate post its second bimonthly policy meet of the current fiscal.The six-member monetary policy committee of RBI headed by Governor Urjit Patel on Wednesday bit the bullet and hiked the repo - the short-term lending rate - by 25 basis points to 6.25 per cent.
The BSE Auto index was trading 1.28 per cent up at 24,771 around 02:50 pm with all components in the green.
Shares of Bosch (up 4.67 per cent), Tata Motors (up 3.47 per cent) and Exide Industries (up 1.90 per cent) were the top gainers in the index.Eicher Motors (up 1.67 per cent), Bajaj Auto (up 1.58 per cent) and Bharat Forge (up 1.46 per cent) were also witnessing decent traction in their shares.Motherson Sumi Systems (up 0.88 per cent), Mahindra Mahindra (up 0.86 per cent), Hero MotoCorp (up 0.72 per cent), Maruti Suzuki India (up 0.60 per cent), Cummins India (up 0.43 per cent), Ashok Leyland (up 0.34 per cent) and TVS Motor Company (up 0.12 per cent) were also in the green zone.Benchmark BSE Sensex was up 223 points at 35,126, while the NSE Nifty50 index was up 72 points at 10,665.
Among the 50 stocks in the Nifty index, 39 were trading in the green, while 10 were in the red.
In the Sensex index, 24 stocks were up while 7 were down.