Sensex spikes 500 pts; Bajaj Auto gains 4%, Leyland tanks 6%

Epic Update Ashok Leyland

Equity benchmarks extended gains in afternoon trade with the Sensex rising 488.32 points or 1.93 percent to 25793.79, driven by banking & financials, IT, infra and FMCG stocks.

The Nifty climbed 158.55 points or 2.05 percent to 7907.40. The market breadth remained in favour of advances with 2:1 ratio.

Bajaj Auto rallied more than 4 percent after the two-wheeler maker’s fourth quarter earnings met analysts’ expectations. Profit grew by 29 percent and revenue increased 14 percent YoY.

Ashok Leyland tanked 7 percent after the commercial vehicle reporting a 66 percent decline in Q4 profit due to exceptional loss of Rs 379 crore.

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Posted in: Indian Market Tips