Brokerage calls and August auto sales numbers drove sharp moves across the Nifty 500 at market open, with UBS and HSBC weighing in on Coal India even as automakers posted mixed monthly sales.

IFCI and Coal India led the gainers on the Nifty 500 at the open, according to CNBC-TV18's market-opening coverage. On the losing side, Hero MotoCorp, Eicher Motors, and Ola Electric Mobility were among the notable auto stocks that declined as the session began.

The moves came as investors digested fresh brokerage commentary, including reports on Coal India shares jumping after e-auction premiums remained strong. E-auction premiums are closely tracked as an indicator of spot coal demand and pricing power for the state-run miner, which sells a portion of its output through electronic auctions where buyers bid above notified prices. Sustained strength in these premiums is typically read as a signal of firm demand from non-regulated sectors such as steel and cement.

Automakers, meanwhile, released monthly August sales numbers, which showed a mixed performance across the sector. August volumes are watched closely ahead of the festive season, a period that historically accounts for a significant share of annual two-wheeler and passenger vehicle sales in India, making monthly dispatch data a key input for how brokerages and investors position in auto stocks.

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