More than 90 per cent stocks in the NSE 500 universe are currently trading above their 200-day moving average (DMA). Experts say this is a sign that the market has become overheated and can lead to a correction or sideways movement for a long period. The 200-DMA is a key technical indicator used by traders to get a sense of market direction. A level, which is roughly a 40-week average, often acts as key support or resistance.
The new scheme may link the incentives to the battery power - higher the power, higher the incentive and most electric two-wheelers running on Indian roads use low power and fast charging batteries.
The index widened its loss towards the fag-end on emergence of intense selling in heavyweights like ITC, RIL and ICICI Bank. In percentage terms, however, Sun Pharma was the biggest loser with 9.39 per cent drop. Intra-day, the pharma major's shares tanked over 20 per cent.
During May, Maruti Suzuki's domestic car sales were up 2.59 per cent at 87,402 units as against 85,190 units in the same month last year.
TCS was the biggest loser in the Sensex pack, sliding 3.17 per cent, followed by HCL Tech, Yes Bank, IndusInd Bank, RIL, ICICI Bank, Infosys, Tata Steel, Kotak Bank and L&T, down up to 2.34 per cent.
Passenger vehicle wholesales in India rose by 14.16 per cent in August to 2,15,916 units, driven by pent-up demand, industry body SIAM said on Friday. According to the latest data by the Society of Indian Automobile Manufacturers, passenger vehicle wholesales stood at 1,89,129 units in the same month last year.
TCS and Infosys were the top losers in the Sensex pack, falling up to 3.39 per cent.
The Argentinian becomes the first brand ambassador of the company in its 70-year history.
A steep decline in the Asian equities after crude oil fell to its lowest since September 2003 dented sentiments.
Hyundai Motor and Toyota Kirloskar Motor have announced the suspension of manufacturing operations at their respective plants amid coronavirus outbreak. On Sunday, various automakers like Maruti Suzuki India, Honda Cars, Mahindra & Mahindra and Fiat announced a temporary halt in manufacturing operations at their respective facilities.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
Besides, a sharp 8% decline in Chinese stocks added to the sell-off in domestic equities
Five companies get more volumes from scooters than motorcycles.
Infosys, Reliance Industries, TCS, HDFC, HDFC Bank, Maruti, SBI, IndusInd Bank and Kotak Bank led the gains on the Sensex, rising up to 2.53 per cent.
After a very weak December quarter and a poor year-to-date fiscal year volumes-when sales plunged to the lowest in nine years, the signs in the first 15 days of January haven't been encouraging either. "Though the severity of the current wave is not as high as the previous one, it has hit the sentiments hard impacting conversion of enquiries into sales," said Vinkesh Gulati, president, Federation of Automobile Dealers Association (FADA).
Analysts said the demand recovery in two-wheeler and car segments was skewed towards the semi-urban and rural markets.
Reflecting the bullish mood, all sectoral indices ended with gains, led by auto, oil and gas, FMCG, IT and teck. The broader NSE Nifty, after crossing the 10,600-mark, settled 68.40 points, or 0.67 per cent higher at 10,598.40.
The Sensex gained 7,430.37 points, or 27.91 per cent, this year.
00 hours. The overall investors' wealth, measured in terms of valuation of all listed stocks, was down by nearly Rs 6 lakh crore in early morning trade, from nearly Rs 111.44 lakh crore at the end of Tuesday's trade.
Data issued by Siam shows sale of PVs (cars, vans and utility vehicles) grew 14.3 per cent to 275,417 vehicles.
The BSE 30-share index after a positive opening stretched to 31,772.41, but could not stay there for long buffeted by the selling pressure. It hit a low of 31,562.25 before settling lower by 79.68 points, or 0.25 per cent, at 31,592.03.
Despite Covid downturn, CEO salaries went up by an average of 19% in FY21.
SBI was the biggest loser in the Sensex pack, shedding 2.40 per cent, followed by Yes Bank, Bharti Airtel, L&T, Sun Pharma, M&M, ICICI Bank, ONGC, RIL, Asian Paints, Vedanta and HUL, which lost up to 2.37 per cent.
The sharp increase in commodity prices on account of the Russia-Ukraine war has put automakers in a fix. After the frequent price hikes in the current fiscal, manufacturers fear that any more price increases may further dent the already weak demand in certain segments. "We have taken several hikes and cannot immediately do it again. "We will have to closely watch the situation and act accordingly," said an official at an auto firm, declining to be identified. Even for companies like Tata Motors Passenger Vehicles, which has had a strong volume run and a robust order book, passing on the entire costs has been tough.
Metal stocks lose ground with Hindalco, Tata Steel, Sesa Sterlite down 4-10%.
While Vedanta was the biggest gainer in the Sensex pack rallying 4.67 per cent, others included Tata Steel, ONGC, NTPC, Yes Bank, Infosys, Sun Pharma, Bharti Airtel, SBI, Bajaj Finance, L&T and RIL, rising up to 4.13 per cent.
Second body blow after diesel ban on engines of 2,000 cc and above in NCR.
The broader markets closed in tandem with their large counter parts- BSE Midcap and Smallcap indices lost 0.065 and 0.10%, each.
Higher input cost is likely to weigh on Auto sector's Q4 numbers.
Vehicle prices have gone up as manufacturers gear up for the transition to stricter emission norm BS-VI from BS-IV beginning April 1.
From its all-time peak of 38,989.65 scaled on August 29 this year, the Sensex has fallen by 2,921.32 points, or 7.5 per cent, to 36,068.33.
Car sales in India surged by 12.87 per cent in December.
Besides electric vehicles, some start-ups present are working in the area of bike customisation, motorsports, auto gaming arena, autonomous vehicle and so on
Broader markets outperformed benchmark indices with BSE Midcap and BSE Smallcap up 0.5% and 0.6%.
Prices of two-wheelers, passenger and commercial vehicles are set to rise 15-25%
The 50-share NSE Nifty ended flat, up 5.80 points, or 0.06 per cent, at 10,308.95.
The Nifty closed at 10,335.30, down 28.35 points, or 0.27 per cent.
The broader markets, however, outperformed their larger peers.
Sensex shed 167 points to close at 28,633 and Nifty dropped 55 points to end at 8,695.
Tata Steel was the biggest gainer in the Sensex pack, rising 3.36 per cent, followed by Vedanta, Bajaj Finance, TCS, IndusInd Bank, Infosys, ONGC, Kotak Bank, HDFC Bank, HDFC, M&M and ITC.
