Auto stocks today: Shares of Ashok Leyland, Maruti Suzuki, Tata Motors Passenger Vehicles and Mahindra & Mahindra rallied on Thursday, pushing the Nifty Auto index up nearly 3 percent and making it the top-performing sectoral index on the NSE. The gains came amid a broader market rally, supported by a sharp decline in global crude oil prices and expectations of a possible easing of US trade tariffs following the midterm elections.
The Nifty Auto index surged 2.9 percent, or 761 points, to 27,2656, outperforming the benchmark Nifty 50, which gained 1.7 percent in morning trade.
Ashok Leyland led the sectoral rally, surging 9 percent to Rs 168, followed by Maruti Suzuki, which climbed 4.7 percent to Rs 12,556. Tata Motors Passenger Vehicles (TMPV) advanced 4.5 percent to Rs 291, while Mahindra & Mahindra gained 3.4 percent to Rs 3,063.
Maruti Suzuki, Tata Motors PV and Mahindra & Mahindra were also among the top gainers on the Nifty 50.
Other major gainers included Hyundai Motor India, which rose 3.3 percent to Rs 2,132, and Samvardhana Motherson International, which advanced 3.1 percent to Rs 165. Eicher Motors gained 2.5 percent to Rs 7,610, TVS Motor Company climbed 2.5 percent to Rs 4,440, and Uno Minda rose 2.4 percent to Rs 1,226.