After opening the day on a positive note, the Indian share markets have continued the momentum and are currently trading comfortably in green. All sectoral indices are trading in green, with stocks in the IT sector and the auto sector witnessing maximum buying interest.

The BSE Sensex is trading up 260 points (up 0.8%) and the NSE Nifty is trading up 78 points (up 0.8%). Meanwhile, the BSE Mid Cap index is trading up by 0.7%, while the BSE Small Cap index is trading up by 0.8%. The rupee is trading at 65.32 to the US$.

In news from the auto sector. Automobile stocks are witnessing buying interest today after the government announced advanced rollout of BS-VI fuel in Delhi-NCR to cut pollution.

Car makers cautiously welcomed the decision by the ministry of petroleum and natural gas to make BS-VI fuel available in Delhi-NCR from April 2018.

The government had earlier decided to leapfrog to BS-VI by April 1, 2020, skipping BS-V.

Previously, fuel meeting Euro-IV, or Bharat Stage (BS)-IV, specifications were to be supplied throughout the country by April 2017 and BS-V, or Euro-V, fuel by April 1, 2020.

Oil refining companies had invested over Rs 550 billion for production and supply of BS-III/IV fuel and had planned to invest Rs 800 billion in upgrading their petrol and diesel quality to meet BS-VI specifications by 2020.

However, the auto industry said that while the government’s move to advance introduction of BS VI fuels in the capital is a step in the right direction to fight pollution, the industry is not in a position to launch vehicles complying with the strict emission norm before April 2020.

Industry players also said there has to be a holistic approach to combat pollution in the national capital and focus must also be on phasing out old vehicles.

Notably, BS-IV emission norms for both fuel and automobiles were implemented across the country from April 1, 2017. This saw a ban on BS-III compliant vehicles, affecting the auto industry significantly.

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