TVS Motor Company (up 2.44%), Hero MotoCorp (up 1.81%), Mahindra & Mahindra (up 1.75%), Tata Motors (up 1.38%), Maruti Suzuki (India) (up 1.39%), Bajaj Auto (up 0.86%), Ashok Leyland (up 0.60%), Escorts (up 0.60%) and Eicher Motors (up 0.35%), edged lower.
The BSE Auto index was up 1.05% at 11,187.66. It outperformed the Sensex, which was up 0.03% at 20,109.64.
The BSE Auto index had underperformed the market over the past one month till 25 January 2013, falling 2.06% compared with the Sensex's 4.41% rise. The index had, however, outperformed the market in past one quarter, rising 8.46% as against Sensex's 7.17% rise.
The Reserve Bank of India (RBI) is seen cutting its key policy rate viz. the repo rate by 25 basis points at Third Quarter Review of Monetary Policy 2012-13 tomorrow, 29 January 2013.
Purchases of automobiles, including that of cars, utility vehicles and commercial vehicles are substantially driven by financing.
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