Auto Sector Drives The Nifty Bull Run , Nifty Up By 2% BSE Up By 239 Points NSE By 89 Points

Benchmark indices holding on to the early gains with Sensex crossing 53,000 levels and Nifty trading near the record high level.

Tuesday morning trade saw the Nifty Auto index in green with a bull run led by broad-based buying sentiments. The S&P BSE Sensex crossed 53,000 levels and the Nifty 50 index near the record high level of 15,880. The bullish stance in auto stocks is also led by expectations of strong demand recovery in June.

IIFL Securities opined “The bullish stance in auto stocks is also led by expectations of strong demand recovery in June.”

In the last 24 hours, India recorded 85 lakh vaccine doses along with the country logging the lowest number of positive cases leading to positive investor sentiments.

At around 1:10 PM, Nifty Auto Index was trading at 10,585.20 higher by 184.40 points or 1.77%. The index has touched an intraday high and low of 10,610 and 10,456 respectively during early trading hours.

BSE was trading higher by 239 points at 52,814 levels and NSE was trading at 15,835 levels up by 89 points or 0.57%.

With Maruti announcing a price increase yesterday, owning to an increase in various input costs, the Nifty Auto Index saw Maruti Suzuki in top gear with 5.03% at Rs7264.90 per piece.

The Nifty Auto index saw 14 scrips leading the charge with Balkrishna Industries only in the red

Ashok Leyland and Tata motors both were above 2% while Eicher motors and Bharat forge were up by 1.38% and 1.60% respectively.

Meanwhile, Balkrishna Industries was the only scrip that saw a decline by 1.12% at Rs2,219.90 per piece on the index