Sensex in positive mode led by auto stocks
The Sensex gained 78.97 points to close at 11,778.02 on aggressive buying by funds and investors.india Updated: Sep 01, 2006 20:13 IST
Auto stocks on Friday extended major support to the BSE benchmark Sensex, as segment leaders reported attractive vehicle sales for the month of August.
The Sensex gained 78.97 points to close at 11,778.02 on aggressive buying by funds and investors.
The automobile index gained by 105.50 points at 5050.45 on the back of Bajaj Auto's record vehicle sales last month.
The counter gained Rs 49.50, or 0.8 per cent, to Rs 2747 as sales climbed 11 per cent in August while motorcycle sales rose 21 per cent and exports by 36 per cent.
Maruti stocks rose Rs 7.60, or 0.9 per cent, to Rs 869 after reports of its sales increasing by 11 per cent. Tata Motors added Rs 6.65, or 0.8 per cent, at Rs 851.80 as the truck and bus maker plans to increase sale to 6,000 vehicles in the next three years.
TVS Motors rose Rs 3.55, or 3.8 per cent, to Rs 96.4 after the third-biggest motorcycle maker said August sales jumped 32 per cent to 135,533 vehicles.
However, Hero Honda, a leading motorcycle maker declined by Rs 8.30, or 1.2 per cent, to Rs 712 after the company reported August month sales, including exports, fell to 215,076 vehicles from 246,304 a year earlier.