The key equity benchmarks continued to trade with minor gains in morning trade. Investors will monitor inflation numbers due later this week. The Nifty traded near the 24,800 level.
Auto stocks rallied for the fourth consecutive trading session.
At 10:25 IST, the barometer index, the S&P BSE Sensex gained 159.14 points or 0.20% to 80,858.96. The Nifty 50 index rose 54.95 points or 0.23% to 24,796.50.
The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.63% and the S&P BSE Small-Cap index jumped 0.64%.
The market breadth was strong. On the BSE, 2,536 shares rose and 1,248 shares fell. A total of 224 shares were unchanged.
Buzzing Index:
The Nifty Auto index advanced 1.93% to 26,827.30. The index jumped 4.86% in four consecutive trading sessions.
Bharat Forge (up 4.28%), Ashok Leyland (up 3.88%), Tata Motors (up 3.04%), Mahindra & Mahindra (up 2.02%), Bajaj Auto (up 1.82%), Samvardhana Motherson International (up 1.73%), Hero MotoCorp (up 1.62%), Maruti Suzuki India (up 1.55%), Balkrishna Industries (up 1.42%) and TVS Motor Company (up 1.33%) advanced.
Stocks in Spotlight:
Sunteck Realty rose 2.49% after the company's board approved the issuance of 1.18 crore convertible warrants through preferential allotment, raising nearly Rs 500 crore at an issue price of Rs 425 per warrant.
SPML Infra shed 0.41%. The company announced that it has secured a Rs 1,438 crore order in a joint venture with JWIL Infra (SPML leading with 51%) from the Public Health Engineering Department (PHED), Bharatpur, Rajasthan.
The project, awarded under the Jal Jeevan Mission, aims to strengthen water supply infrastructure across the region, the company said in a filing. The scope includes comprehensive construction works along with 10 years of operations and maintenance (O&M).