NEW DELHI: A majority of auto stocks were trading with gains in afternoon trade on Monday, keeping the sectoral index up.The BSE Auto index was trading 1.02 per cent up at 24,625 around 02:30 pm, with Cummins India (up 4.49 per cent), Tata Motors (up 4.45 per cent) and TVS Motor Company (up 2.90 per cent) as the top gainers.
Shares of Bharat Forge (up 2.76 per cent), Bajaj Auto (up 2.07 per cent), Motherson Sumi Systems (up 1.70 per cent), Hero MotoCorp (up 1.51 per cent) and Mahindra Mahindra (up 1.04 per cent) too were trading with decent gains.Exide Industries (up 1.03 per cent), MRF (up 0.97 per cent), Ashok Leyland (up 0.90 per cent) and Balkrishna Industries (up 0.11 per cent) were also in the green.
However, Apollo Tyres (down 1.54 per cent), Eicher Motors (down 0.68 per cent), Maruti Suzuki India (down 0.54 per cent) and Bosch (down 0.35 per cent) were incurring losses around that time.
Equity market was trading higher on gains in most sectors, barring IT and consumer durables.Positive global cues and a fresh rise in the Indian rupee against the US dollar too influenced the sentiment.Benchmark BSE Sensex was up 346.76 points at 38,294.64, while the NSE Nifty50 index was up 80.30 points at 11,551.05.Among the 50 stocks in the Nifty index, 34 were trading in the green, while 16 were in the red.
In the Sensex pack, 26 stocks were advancing and 5 were declining.
Larsen Toubro, Reliance Industries and HDFC twins were among the top contributors to the rally in the Sensex index.