India's auto index hits record high on media reports of strong bookings after GST cut

** India's Nifty Auto .NIFTYAUTO rises 2.1% to hit a record high, outperforms as 15 of 16 major sub-indexes trade in red

** Auto firms saw strong bookings for passenger vehicles on the first day of GST cut rollout on Monday, local media reports show

** Reuters could not immediately verify the reports

** Sales were led by Maruti Suzuki MRTI.NS and Hyundai Motor India HYUN.NS, according to the reports

** Shares of MRTI up 2.3% and HYUN jumps 1.2% on the day

** The GST cut is likely to trigger a volume-driven upcycle in the passenger vehicle industry in India, aiding sustained momentum in FY26, analysts at ICICI Direct said

** The analysts' top picks are MRTI and Mahindra MAHM.NS, which are up 1%; added that the boost in volumes "reflects pent-up demand and strategic consumer response to pricing advantages"

** Gains in the index led by MRTI, among top gainers on the Nifty 50 index .NSEI, which is down 0.3% .BO

** Most stocks on the 15-member index were trading in the green

** Year-to-date, Nifty auto was up ~20% vs a 6% rise in Nifty 50