Benchmark indices held firm near day’s high during afternoon trade. Recovery in other Asian shares triggered value buying in domestic shares.
The BSE Sensex was trading at 35,074, up 642 points, while the Nifty50 gained 196 points to trade at 10,576.
The market breadth, indicating the overall health of the market, was strong. On BSE, 1,768 shares rose and 722 shares fell. A total of 122 shares were unchanged.
The NSE Auto index was trading 4.14% up at 9,179.
Motherson Sumi secured the top position on the index trading higher by 11%. Other auto stocks including Maruti, Amara Raja Batteries and Hero MotoCorp are also trading higher by more than 5%.
Hero MotoCorp stock jumped 5% after the company reported sales of 7,34,668 vehicles in October 2018, a growth of 16% yoy.
Bajaj Auto rose over 3% on the NSE. The company reported outstanding volume growth in October 2018, with all round segment performance. While domestic growth was aided by its pricing-related strategy, exports were helped by strong prospects in its target markets. It sold 5,06,699 vehicles in October 2018, up 32% yoy.
Mahindra & Mahindra Farm Equipment Sector (FES) sold 47,376 tractors in October 2018, up 17% yoy (26% mom). Stock advanced nearly 3%.
Tata Motors Ltd is currently trading at Rs187.85 up by Rs9.1 or 5.09% from its previous closing of Rs178.75 on the BSE.
Eicher Motors Ltd is currently trading at Rs22,755.05 up by Rs769.4 or 3.5% from its previous closing of Rs21,985.65 on the BSE.
TVS Motor Company Ltd is currently trading at Rs562.50 up by Rs16.4 or 3% from its previous closing of Rs546.10 on the BSE.
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