At 10:30 IST, the barometer index, the S&P BSE Sensex, advanced 482.29 points or 0.55% to 77,994.45. The Nifty 50 index gained 133.40 points or 0.56% to 24,163.65.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index jumped 1.03% and the BSE 250 SmallCap Index gained 1.18%.

The market breadth was strong. On the BSE, 2,841 shares rose and 844 shares fell. A total of 188 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 12.53% to 20.44.

Buzzing Index:

The Nifty Auto index jumped 1.63% to 26,388.30. The index dropped 5.11% in the past two consecutive trading sessions.

Ashok Leyland (up 3.36%), Mahindra & Mahindra (up 2.53%), Sona BLW Precision Forgings (up 2.36%), Samvardhana Motherson International (up 2.22%), TVS Motor Company (up 2.14%), Tata Motors Passenger Vehicles (up 1.72%), Uno Minda (up 1.66%), Eicher Motors (up 1.52%), Hero MotoCorp (up 1.36%) and Bosch (up 1.17%) advanced.

Stocks in Spotlight:

Hindustan Organic Chemicals (HOCL) shed 0.34%. The company said that it has temporarily curtailed operations at its Kochi phenol complex following disruption in LPG supply from Bharat Petroleum Corporation.

Optiemus Infracom advanced 2.66% after the company's board approved the infusion of additional capital aggregating to Rs 195 crore into its two wholly owned subsidiaries thorugh a right basis.

Minda Corporation gained 2.58% after its subsidiary, Spark Minda Green Mobility Systems signed a joint venture agreement with Turntide Drives.

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