Auto Stocks Soar Amid Tariff Exemption Hints

Auto stocks experienced a notable rally after US President Donald Trump suggested potential tariff exemptions for the industry. Major companies like Samvardhana Motherson and Bharat Forge saw significant surges, contributing to overall market gains. The BSE auto index also witnessed a remarkable increase, reflecting positive market sentiment.

Auto stocks saw a major boost on Tuesday following comments from US President Donald Trump about possible tariff exemptions for the industry. The President suggested that temporary relief from existing tariffs could be on the horizon, leading to widespread optimism in the market.

Some of the notable gainers included Samvardhana Motherson International, which jumped 8.17%, and Bharat Forge, rising by 6.86%. Other industry giants such as Tata Motors and MRF also made strong showings, with increases of 4.50% each. The BSE auto index surged by 3.39%, reaching 47,618.30.

Experts noted the significant impact on broader market indices due to these developments. The 30-share BSE Sensex leapt 1,577.63 points, closing at 76,734.89, while the NSE Nifty climbed 500 points to 23,328.55. Analysts, including Satish Chandra Aluri and Vinod Nair, highlighted the potential tariff relief as a key factor driving these gains.

(With inputs from agencies.)