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Auto index ends as top performer

September 4, 2009

INDIA-MOTOR/SALESThe BSE Auto index ended as the top sectoral performer on Friday, gaining 2.8 percent in a market that rose nearly 300 points.

Amtek Auto was the star performer in the auto index, with its shares surging nearly 16 percent. Its shares have jumped nearly 50 percent since July.

Top auto companies in India like Mahindra & Mahindra and Hero Honda ended as top Sensex gainers, adding 6.2 and 4.2 percent respectively.

The sectoral index has gained nearly 150 percent this year, as a revival in demand helped auto companies boost sales.

Analysts say the payment of second installment of arrears to government employees can also benefit the sector.

Do you think the sector has the potential to extend its gains?

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