Nifty above 24,350; auto shares advance

The key equity benchmarks traded with strong gains in morning trade, supported by a sharp decline in crude oil prices following the US midterm election results. The Nifty traded above the 24,350 mark. Auto shares extended gains for the fourth consecutive trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, jumped 1,476.68 points or 1.91% to 78,794.58. The Nifty 50 index rose 434.95 points or 1.82% to 24,391.80.

In the broader market, the BSE 150 MidCap Index gained 1.81% and the BSE 250 SmallCap Index added 1.47%.

The market breadth was strong. On the BSE, 3,130 shares rose and 820 shares fell. A total of 219 shares were unchanged.

New Listing:

Shares of Bombay Coated & Special Steels were currently trading at Rs 96.62 at 10:25 IST on the BSE, representing a premium of 17.83% as compared with the issue price of Rs 82.

The stock debuted at Rs 92.02 on the BSE, a premium of 12.22% over its issue price.

So far, the stock has hit a high of Rs 96.62 and a low of Rs 92. On the BSE, over 19.51 lakh shares of the company were traded in the counter so far.

Buzzing Index:

The Nifty Auto index rose 2.33% to 27,123.10. The index jumped 6.65% in the four consecutive trading sessions.

Ashok Leyland (up 8.96%), Maruti Suzuki India (up 4.41%), Tata Motors Passenger Vehicles (up 4.38%), Samvardhana Motherson International (up 3.44%), Mahindra & Mahindra (up 3.21%), Hyundai Motor India (up 3.17%), TVS Motor Company (up 2.47%), Uno Minda (up 2.43%), Eicher Motors (up 2.43%) and Bharat Forge (up 1.93%) added.

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