Nifty Auto jumps over 2%; Maruti, TVS Motor, Ashok Leyland, M&M among top gainers. Why are auto stocks rising?

Nifty Auto index jumped over 2 percent on Thursday morning, led by broad-based gains across major auto stocks. Maruti, TVS Motor, Ashok Leyland, Mahindra and Mahindra, Hero MotoCorp, and Eicher Motors each rose more than 2 percent, signalling a strong sector-wide rally.