Buoyed by the robust sale growth,shares of auto companies,led by Tata Motors,notched up widespread gains on the Bombay Stock Exchange,pushing the auto sector index by over 168 points. The BSE benchmark Sensex ended at all-time high on the eve of Diwali. Strong second quarter earnings by most of the auto companies and hopes of steady growth in sale,driven by ongoing festive and marriage season also,accelerated buying activity by funds. Along with the upbeat mood,the 12-share BSE auto index ended 168.65 points,or 1.67 per cent higher at 10,241.05,helping the 30-share benchmark Sensex to gain 427.83 points to close at an all-time high at 20,893.57 points. It closed at 20,873.33 points on January 8,2008. Analysts said trading sentiments bolstered on steady inflow of capital after auto majors posted impressive growth in their monthly sales and announcement of strong earnings. Firm trends in global markets after the Federal Reserve announced that it would pump in more stimulus to revive the struggling US economy also responsible for the rally in stock prices,across the board,they said. "Better-than-expected debut by the state-run Coal India Ltd was another positive factor which cheered the investors",said Deepak Pahwa,a delhi-based stock broker. Tata Motors remained the front-runner among auto stocks after the company posted over 21 per cent rise in sale in October,and surged 4.03 per cent to close at Rs 1,233.10 on the BSE. Auto major Maruti Suzuki's scrip shot up by 0.74 per cent to settle the session at Rs 1,506.55 after the company reported its highest ever monthly sales at 1,18,908 units in October,registering a robust 39.21 per cent jump over the year-ago period. Other gainers included Ashok Leyland by 3.99 per cent to Rs 78.25,Mahindra & Mahindra,up 2.39 per cent to Rs 777.70 and Bajaj Auto up 1.41 per cent to Rs 1,603.45 but Hero Honda shed 1.32 per cent to Rs 1840.45 on profit-taking.
