Stock market barometers Sensex and Nifty ended marginally higher on Monday as rise in wholesale inflation capped early gains despite a positive trend in global markets. The 30-share index settled 32.02 points or 0.05 per cent higher at 60,718.71 with half of its constituents ending in green. The broad based Nifty edged up 6.70 points or 0.04 per cent to close at 18,109.45.
Analysts caution against volatility and recommend buying stocks of companies that are on strong fundamental footing that have been beaten down badly in the recent carnage.
Bajaj Auto said it was "concerned" that the Japanese auto giant Honda may have an "aggressive pricing strategy" with its planned entry into the country's motorcycle market in October. Bajaj also launched the CT 400 bike.
In addition to new launches and restructuring across product segments, festival demand also aided growth.
In the Sensex pack, Axis Bank, Tata Motors, Infosys, Kotak Bank, HDFC Bank, RIL, Bajaj Auto, SBI, HUL, Tata Steel, Vedanta, HFDC, TCS, ITC and Sun Pharma jumped up to 4.64 per cent.
Bookings have already begun and after Colombia, Bajaj Auto plans to take Pulsar 200 NS to the European markets by the year end
IndusInd Bank was the top gainer in the Sensex pack, rising 2.68 per cent. ICICI Bank gained 2.68 per cent at close. Yes Bank, Tata Steel, SBI, TCS, L&T and Infosys also advanced.
Automobile company Tata Motors, metals and mining major Vedanta, oil marketing firm Bharat Petroleum Corporation (BPCL), private sector IndusInd Bank, and two-wheeler major Bajaj Auto have witnessed their market cap slip below the Rs 1-trillion mark this year.
The two-wheeler industry marked its first fall in 11 months in November with sales of 1.24 million reporting a fall of nearly six per cent compared to the same month last year
Bollywood star Shah Rukh Khan revelas his passion for biking.
Reliance Industries was the biggest loser in the Sensex pack, falling 2.62 per cent, followed by Nestle India, IndusInd Bank, UltraTech Cement, M&M and SBI.
Top gainers in the Sensex pack on Friday included IndusInd Bank, Bajaj Finance, M&M, SBI, ICICI Bank and Vedanta, rising up to 1.90 per cent.
The broader NSE Nifty too ended 98.30 points, or 0.89 per cent, down at 10,918.70.
NTPC was the top gainer, spurting 4.28 per cent. Other winners were Bajaj Auto, Bajaj Finance, Sun Pharma, ITC, Hero MotoCorp, TCS, Yes Bank, HDFC, HDFC Bank and SBI, rising up to 1.38 per cent.
Bajaj Auto expects to clock an over 50 per cent growth in exports to about 160,000 units during 2003-04, the company said on Thursday.
The broader NSE Nifty jumped 57.25 points or 0.49 per cent to close at 11,844.10.
Bajaj Auto will unveil the KTM Duke 390 in mid-November at ECIMA Motorcycle Show. Powered by a 390cc engine the bike will hit Indian roads in March 2013 for a princely sum of Rs 2 lakh.
Kotak Bank was the top loser in the Sensex pack, shedding over 2 per cent, followed by ICICI Bank, PowerGrid, HDFC, IndusInd Bank and Axis Bank. NSE Nifty declined 45.75 points to 16,568.85.
Bajaj Auto Ltd has no plan to offer the Japanese company Kawasaki an equity stake in Bajaj Auto or any of its subsidiaries, Rahul Bajaj, chairman and managing director of the company, said in Pune on Saturday.
Nestle India was the top loser in the Sensex pack, shedding 2.20 per cent, on its first day as part of the index.
Consumer businesses come to the rescue of large conglomerates in the midst of a meltdown in commodities.
The rally was mainly driven by financial, consumer durables, auto and oil and gas stocks.
Listed cos begin appointing women directors
It was a ride on the fast lane for motorcycles in India with sales in the domestic market going up as much as 19 per cent in the just-ended financial year to 49,64,442 units.
Kotak Bank was top loser among Sensex stocks, dropping by 3.28 per cent. HDFC Bank declined by 1.86 per cent, HDFC by 1.28 per cent and ICICI Bank by 0.99 per cent. SBI fell 0.5 per cent while Bajaj Finance by 0.72 per cent. Larsen & Toubro dropped 0.16 per cent.
Auto firms bet big on premium bikes
After opening higher, the markets continued to trade in the positive zone in the afternoon session as traders were encouraged by RBI governor Shaktikanta Das's statement that the new resolution framework is expected to give durable relief to borrowers amid the Covid-19 crisis, said Narendra Solanki, head-equity research (fundamental), Anand Rathi.
From power packed performance to scintillating appearance, this bike accommodates every possible feature a rider expects in a sportsbike
Yes Bank was the biggest gainer, rising 3.40 per cent, after ace investor Rakesh Jhunjhunwala bought approximately 1.3 crore shares of the company for around Rs 87 crore through open market transactions.
'It is a brand that has done so well till recently.'
