Thursday, November 1, 2012

TATA MOTORS SPARKLES, NIFTY UP 25 POINTS

Negative sentiments prevailed in the exchanges for few hours in the morning. Led by RIL, NIFTY had lost slipped below 5600 level. Trend was reversed after auto stocks surged. Tata Motors was the top gainer. It closed at Rs 266, up Rs11.  Maruti numbers for October has beaten the street estimate. The stock gained Rs 27 and hit 52 week new high. Similarly Bajaj, Hero and M&M, all closed with substantial gains. Bajaj auto and M&M too hit 52 week high. Bank stocks recovered from rate cut dilemma and ended the day in green territory. The biggest reversal of the trend came from RIL. The stock due to negative news had lost Rs 17 in the early trade but recovered to close in green. ONGC, HUL,ITC,GAIL and HDFC Bank were the main losers among NIFTY stock. FIIs net bought to the extent of Rs 335cr in cash market. Market is expected to be positive territory tomorrow also.

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