Buzzing Stocks: TCS, Tata Motors, Shree Cement and other stocks in news today
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Tata Motors share price falls 2%
Tata Motors share price slipped 2 percent on July 8 after company owned British brands, Jaguar Land Rover expects to end the first half of the year with a 36 percent loss in volumes due to the on-going semiconductor shortage.
However, the second half is expected to see better supply of chips and improvement in vehicle production, a top company official said on July 7.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services:
A distinct trend in currency market recently has been the steady depreciation of INR from around 72.50 to the dollar in May to around 74.60 now. Apart from the gains to the IT and pharma industry INR depreciation augurs well for other major exporters like textiles and auto ancillaries which have done well in Q4 FY 21 and is all set to improve both top and bottom lines in FY22.
While the steady rise in the dollar index is an EM negative, it is getting neutralized by the sharp dip in the US 10-year yield to 1.32%. FIIs turning buyers (Rs 533 crore yesterday) after sustained selling for many days removes a major concern of an imminent big correction triggered by large-scale FII selling. Nifty breaking 15900 level and sustaining above that appears a big challenge.
FADA June sales data:
Auto industry witnessed high pent up demand in June. The total vehicle retail sales rose 22.6% YoY on low base.
The June retail sales down 28% compared to June 2019. The two-wheeler sales up 17% and three-wheelers sales were up 22%.
The June passenger vehicle up 43%, YoY, while tractor sales up 14% & commercial vehicle sales were up 2.4x.
Gainers and Losers on the BSE Sensex
Market Opens: Indian indices opened flat on July 8 amid mixed global cues.
At 09:16 IST, the Sensex was up 3.33 points or 0.01% at 53058.09, and the Nifty was down 8 points or 0.05% at 15871.70. About 1379 shares have advanced, 553 shares declined, and 81 shares are unchanged.
DAILY VOICE | Viraj Mehta Of Equirus Sees This Sector As The Dark Horse
Given the nature of the cycle, we believe the underperformers will catch up over the coming quarters as the economy starts gaining traction and vaccination picks pace, says Mehta.
ICICI Direct
Indian markets are likely to open gap down on the back of investors staying wary of rising Covid cases in a few states despite positive global cues and lower crude prices, bond yields. US markets ended marginally higher post release of minutes of Federal Reserve’s meeting.
Market at pre-open: Benchmark indices are trading mixed in the pre-opening session amid mixed global cues.
At 09:02 IST, the Sensex was up 100.04 points or 0.19% at 53154.80, and the Nifty was down 55.10 points or 0.35% at 15824.60.
Results on July 8
Tata Consultancy Services, Gammon Infrastructure Projects, and Shyam Metalics and Energy will release quarterly earnings on July 8.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 532.94 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 231.80 crore in the Indian equity market on July 7, as per provisional data available on the NSE.
Market LIVE Updates: Indices trade flat; Bajaj Auto Tata Motors top losers; PSU banks in focus - Moneycontrol.com
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