Auto stocks continued their upward momentum on Monday, pushing the Nifty Auto index to a record high in the first trading session of the week. The index rose 1.3 per cent to 29,179, extending its gains to 5.75 per cent over the last five trading sessions.
The rally was driven by strong buying interest across major auto names. Eicher Motors climbed around 2 per cent to ₹7,477, while Maruti Suzuki, Uno Minda, TVS Motor Company, Hero MotoCorp, and Bajaj Auto gained over 1 per cent each.
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Market experts attributed the strength in auto stocks to robust vehicle sales in December, supported by festive-season demand and the recent GST reduction, which boosted consumer sentiment. Analysts also pointed to rising demand for entry-level vehicles across both the two-wheeler and passenger vehicle segments.
Sales data reinforced the positive outlook. Hero MotoCorp reported a 43 per cent jump in December sales, TVS Motor Company posted a 54 per cent increase, and Royal Enfield saw sales rise by 30 per cent. Among passenger vehicle makers, Maruti Suzuki recorded a 37 per cent rise in sales, Mahindra & Mahindra grew 23 per cent, and Tata Motors’ passenger vehicle sales increased by 14 per cent.
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