BSE Auto index hits fresh 52-week high, zooms 100% from March low

Mahindra & Mahindra and Motherson Sumi Systems have rallied over 200 per cent from March lows.

Shares of automobile companies continued their northward movement with the BSE Auto index hitting a fresh 52-week high on Wednesday. The index has more-than-doubled from its March low. The strong rally in automobile stocks is on the expectation of improvement of volumes in the coming quarters on better rural sentiment, low-interest rates, improving finance availability, and a gradual pick-up in business and economic activity.

At 09:42 am, the S&P BSE Auto index was up 0.29 per cent, as compared to a 0.51 per cent rise in the S&P BSE Sensex. The auto index hit a fresh 52-week high of 20,281.70 in