India's auto index hits record high on GST cuts boost

** Nifty Auto .NIFTYAUTO rises 2.1% to record high, outperforms as 14 of 16 major sub-indexes trade in red

** Auto dealers saw increased footfalls as buyers thronged dealerships in large numbers on Monday to buy vehicles with lower price tags, PTI reports, citing Federation of Automobile Dealers Association (FADA) President C S Vigneshwar

** Sales led by Maruti Suzuki MRTI.NS and Hyundai Motor India HYUN.NS, per media reports

** Reuters could not immediately verify the reports

** MRTI up 2.3% and HYUN jumps 1.4%

** GST cut likely to trigger volume-driven upcycle in passenger vehicle industry, aiding sustained momentum in FY26 - ICICI Direct

** Brokerage's top picks MRTI and Mahindra MAHM.NS, which is up 1%; notes volume boost reflects "pent-up demand and strategic consumer response to pricing advantages"

** NIFTYAUTO gains led by MRTI, among top gainers on Nifty 50 .NSEI, which is down 0.3% .BO

** Most stocks on 15-member subindex up

** YTD, NIFTYAUTO up nearly 20% vs Nifty 50's 6% rise