India’s automobile sector kicked off April on a high note, with the S&P BSE AUTO index surging 2.09% to 53,715 points on Tuesday morning, even as the index remains 13.7% lower over the past month. The broader market lent support, with Sensex up 2% and Nifty 50 gaining 1.85%.
The standout story of the session was electric vehicle stocks. Ola Electric Mobility surged 8.5% on the NSE, making it the session’s top performer in the sector. Olectra Greentech jumped 6.5%, while Ather Energy climbed 2.5% — a clear signal that EV sentiment is heating up again after recent weakness.
Legacy auto majors also joined the rally. Force Motors led the pack among traditional players with a sharp 5% gain, crossing the ₹20,400 mark on the BSE. Landmark Cars hit 7.5% gains, and Eicher Motors advanced 3.2% to ₹6,796. Escorts Kubota and M&M both rose 2.84%, while Bajaj Auto added 1.76% to touch ₹8,931.
Not all stocks participated. Hyundai Motor India was the lone decliner, slipping 2.7% on the BSE and 3.2% on the NSE to ₹1,730 — bucking the sector trend, possibly reflecting stock-specific pressure.
While today’s session is encouraging, the 30-day decline of 13.7% in the BSE AUTO index shows the sector has had a rough patch. However, the 1-year gain of 11.4% suggests the structural auto story — especially EV adoption — remains intact.