Auto index outperforms benchmark Sensex for second straight month

In the past two months, M&M has rallied 55%, while Hero MotoCorp soared 46% followed by Escorts (up 37%) and Bajaj Auto (up 32%)

The S&P BSE Auto index is set to beat the benchmark index for second straight month despite the industry heading for another year of double-digit sales decline this fiscal, given the extended lockdown to contain the Covid-19 pandemic.

Thus far in the month of May, the S&P BSE Auto index has gained 5 per cent, as compared to 5 per cent decline in the S&P BSE Sensex. In the previous month of April, the auto index soared 24 per cent against 14.4 per cent rise recorded by the benchmark index. In the first three months (January-March), the auto index