Auto shares rebound; Nifty Auto index up 2%

Tata Motors, M&M, Eicher Motors, Maruti Suzuki and Escorts were up more than 2% each

Shares of automobile companies rallied by up to 9% on the bourses, erasing their early morning losses after reported a December sales figures.

Tata Motors, Mahindra & Mahindra (M&M), Eicher Motors, Maruti Suzuki India, Escorts, SML Isuzu and Force Motors were up 2% to 9% on the BSE in intra-day trade.

At 03:03 pm; Nifty Auto index was up 2% at 9,328 as compared to 0.03% decline in the Nifty 50 index. The auto index hit an intra-day high of 9,334 after hitting low of 9,099 in early morning trade.

Among the individual stocks, Escorts has rallied