Money on the markets

A maturing market amid the mayhem

Auto sector on the move


The BSE Auto Index closed 1.3 points lower on Wednesday as investors across Asia remained cautious after the overnight slide on Wall Street.

The Auto Index was the top performer yesterday, gaining as much as 2.45 percent in a broader market that shed 115 points.

Automobile stocks are set to benefit from India’s stimulus measures aimed at returning the country to 8 percent growth, according to a top official in HSBC Funds.

The auto industry was one of the worst hit by the financial crisis but better than expected results by most major auto makers and increase in sales have made the outlook positive for the sector.