In the midst of the festive season, auto companies in India saw a significant uptick in their stock prices on Friday as October sales data was released. The Nifty Auto index recorded a 1.5% intraday jump, led by major players like Mahindra & Mahindra, Eicher Motors, and Tata Motors. M&M in particular had a record-breaking month, with the highest ever monthly SUV sales. Other companies like Royal Enfield and Hyundai Motor India also saw impressive numbers, providing relief from previous concerns about sluggish demand in the industry.
The stock market kicked off the new Samvat Year 2081 with a strong start as the BSE Sensex rose nearly 448 points in a special Muhurat trading session. This increase was attributed to widespread buying by investors, with all of the index's constituents trading in the green. The 50-issue Nifty also saw a significant rise, with 47 of its constituents ending in the green. Major contributors to the Sensex's gains were Mahindra & Mahindra, Adani Ports, and Tata Motors.