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NIFTY analysis with experts, TATA Motors will hike their passenger vehicles prices, Indian markets remain range bound…. Market updates for 13/12/18

PurpleTrades - stock market courses > News > NIFTY analysis with experts, TATA Motors will hike their passenger vehicles prices, Indian markets remain range bound…. Market updates for 13/12/18

Report by- Sabyasachi Bhattacharya

 

Tata Motors plans to hike their passenger vehicles prices –

Tata Motors on Thursday said it will hike prices of its passenger vehicles across models by up to Rs 40,000 from January 1, 2019, to offset the impact of rising input costs and increase in fuel prices. The company’s passenger vehicles portfolio ranges from entry-level small car Nano to the premium SUV Hexa, which are currently priced between Rs 2.36 lakh and Rs 17.97 lakh (ex-showroom Delhi). The company will launch its new premium SUV Harrier in January. “The changing market conditions, rising input costs and various external economic factors have compelled us to consider this price increase,” Tata Motors President of Passenger Vehicles Business Unit Mayank Pareek said in a statement. The company would be increasing prices of its entire passenger vehicles range by up to Rs 40,000 (depending on the model and city), starting January 1, 2019, the statement added. Tata Motors joins other companies such as Maruti Suzuki, Toyota Kirloskar, BMW and Isuzu, which have also said they would increase prices of their vehicles from January, citing impact of increase in commodity prices and foreign exchange rates. Pareek said despite the price hike, Tata Motors is “optimistic on maintaining our growth trajectory in the coming year on the back of our robust portfolio”.

Source- MoneyControl, Purple Trades Research Department 

 

 

Indian markets trades in range-bound manner throughout the day-

Chart source- ChartInk

Indian markets had a day of indecisiveness today as both BULLS and BEARS took charge of the markets equally. As you can see on the chart given above Nifty had a GAP-UP opening today after which the Index consolidated for a while after which it started moving downwards where it incurred a support at 10,770 level. The Index then bounced back from those levels and then made the new high for the day. The market then fell under heavy selling pressure in the last session of the market. In the end of the day benchmark indices ended the volatile session on positive note on Thursday with Nifty ended below 10,800 level. The Sensex was up 150.57 points or 0.42% at 35929.64, while Nifty was up 53.90 points or 0.50% at 10791.50. About 1470 shares have advanced, 1055 shares declined, and 135 shares are unchanged. Wipro, Kotak Mahindra Bank, Infosys, Maruti Suzuki and Tata Motors are the top gainers on the Sensex, while Yes Bank, Sun Pharma, TCS, Tata Steel and Coal India are among major losers. US-based New York Life has picked up around 2 percent stake in Max Financial Services (MFS) through bulk deals and open market purchases for over Rs 215 crore, signalling its renewed interest in the life insurance business of its former partner in India. According to market sources, New York Life acquired 49,99,130 shares of MFS from Max Ventures Investment Holdings, a promoter group holding company, at Rs 429.50 per share in a bulk deal on Thursday. After the transaction, the promoter holding in MFS has come down to 28.42 percent from 30.29 percent earlier. Max Financial Services is the holding company of Max Life, a non-bank, private life insurance firm.

 

 

 

 

Let’s take a look at the heat map-

 

Let’s take a look at the performance of major Indices-

Global markets had a mixed reaction today as US Index Nasdaq and Asian market Indices like Nikkei, Hang Seng and KOSPI ended up in the GREEN. European market Indices CAC and FTSE ended up in the RED whereas DAX ended up in the GREEN.

Source- MoneyControl, Purple Trades Research Department 

 

Key Points for Traders to watch out for while trading Nifty tomorrow-

  • 10,750 is a short term support for Nifty.
  • If Nifty breaks 10,750 then it has the potential to go down.
  • 10,825 is a short term resistance for Nifty.
  • If Nifty breaks 10,825 then it has the potential to go up.

 

Top sectors that moved the market today- Data source- Moneycontrol

 

 

Top Gainers for today-   Data source- Moneycontrol

 

 

Top losers for today- Data source- Moneycontrol

 

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