Stock Market Today, Aug. 18 -- The Nifty Auto Index gained more than 4% in the morning trade on Monday, August 18, amid expectations of cuts in the Goods and Services tax (GST).

According to a Reuters report, the government has proposed lowering the GST on small cars to 18% from the current 28% as part of sweeping consumption tax cuts, powering the rally in auto stocks. Maruti, Hero Moto and Ashok Leyland emerged as top gainers in the Nifty Auto index.

The Nifty Auto Index opened at 24,804.65, 2.8% higher than the previous day's closing price of 24,118.80. The index continued to gain further to an intraday high of 25,118.85, which meant gains of more than 4% over the last close.

Hero MotoCorp and Maruti Suzuki India were among the key ...