A maturing market amid the mayhem
Auto stocks post decent gains
The BSE Auto Index gained 1.27 percent on Friday, as a top industry body official said he expected Indian vehicles sales to reach a record high for the second year in a row in 2010/11.
Shares in Tata Motors rose 4.5 percent to 808 rupees and ended as the top gainer among the Sensex and auto index components.
Other stocks also posted decent gains, with TVS Motors rising 3.1 percent and Hero Honda jumping 2 percent.
Only two stocks in the index closed in the red – Escorts and Maruti Suzuki, which dropped 2.4 percent and 0.14 percent respectively.
The sectoral index has gained 3.2 percent since mid-March. Seeing the positive sales outlook in 2010/11, would you place your bets here?