Report by- Sabyasachi Bhattacharya
Ashok Leyland December sales at 15,493 units; a plunge of 20%-
Ashok Leyland disappointed Street on Wednesday by reporting a sharp 20 percent fall in sales for the month of December 2018 due to subdued consumer sentiment.
The country’s second largest commercial vehicle maker sold 15,493 units during the month, down from 19,251 units sold in same month last year.
Numbers were also lower than Nomura expectation of 16,500 units.
Sales performance dented by M&HCV segment which registered a 29 percent year-on-year decline to 11,295 units, the company said.
Light commercial vehicle sales increased 27 percent to 4,198 units in December 2018 YoY. At 10:15 hours IST, the stock was quoting at Rs 100.80, down Rs 1.75, or 1.71 percent on the BSE.
Source-Purple Trades Research Department
Indian markets witness a major Bearish day today-
Chart source- Upstox
Indian markets had a bearish day today. The market had an open equals to low opening after which the market never really recovered. It fell very abruptly. During the early morning session the market did go up and tried to hold the 10,750 mark but after that the market started to fall and never really recovered. Equities are closing the session with cuts of over a percent on both indices. The Nifty ended below 10,700, while the Sensex ended nearly 400 points lower. Amid an all-round sell-off among sectors, financials, automobiles, and metals bled, while investors also dumped in the midcaps space. All of this added to the volatility on the market. At the close of market hours, the Sensex was down 377.81 points or 1.05% at 35513.71, and the Nifty lower by 120.20 points or 1.11% at 10672.30. The market breadth was negative as 962 shares advanced, against a decline of 1,588 shares, while 151 shares were unchanged. Asian Paints, HUL, and Bharti Infratel were the top gainers, while ONGC, M&M, IOC and Eicher Motors lost the most.
Let’s take a look at the performance of major Indices-
Global markets had a bearish day today. Asian Indices along with European Indices CAC, FTSE and DAX were all seen in the RED. NASDAQ was also seen in RED.
Source- MoneyControl, Purple Trades Research Department
Key Points for Traders to watch out for while trading Nifty tomorrow-
- 10,650 is a short term support for Nifty.
- If Nifty breaks 10,650 then it has the potential to go down.
- 10,700 is a short term resistance for Nifty.
- If Nifty breaks 10,700 then it has the potential to go up.