Near term view for the Auto Sector.

The hope of auto makers to sell more vehicles during festive season is shattered by the fuel price and the interest rate hikes.More pain for them with regards to the Workers Union woes.Better to stay away from them for the time being.Long term investors may get a wonderful chance to enter into them at a much lower level.

Market Report

Techs, banks help lift markets 1%

Petrol prices to be raised by 3.14 rupees from today

Advance tax mop-up jumps 18%; RIL, TCS on top, SBI slips

Power Finance to sell Rs 69 bn of tax-saving bonds

NSE mulls tie-up with European bourses

Tecpro Systems bags order worth Rs 521cr; stock up 2%

BGR Energy lowest bidder for NTPC's 800 MW tender

SRS to list shares today

Jyoti Structures acquires 50 pct stake in Lauren Engineers

Oil companies hike ATF price by 2.5%

Infosys close to acquiring Thomson Reuters healthcare unit

IOC plans to invest $1.87 bn to up Koyali refinery capacity

InMobi raises $200 mn from Japan’s Softbank

Maruti Suzuki to stop production from today as strike spreads

M&M to sell 8.09% stake in Mahindra Holiday & Resorts

Nifty View- What happens in Europe? We were hearing just 2 days back that every thing is in bad shape. How the feel good factor appeared over night? Fundamentals have been changed over night? Difficult to perceive. Europe's effort to cover up all the black spots is very very alarming.

 At our domestic front. Petrol price hiked after market hour and the EGOM meeting today may decide the LPG subsidy. Now the million dollar question is what RBI will do today? Lot of speculation is there that RBI may take a pause today and Market will blast at this. But, the situation is not that easy. A rate hike would be more beneficial for the market in near term than a pause by RBI. Rather, if rate is hiked, there would a possibility of end of rate hike process, which will attract the investors to the market. However, the price hike of petro products, commodities would drive the RBI to prioritize Inflation over growth.

 

For today,we  continue our cautious guidance at high levels and also avoid fresh buying. One can consider going short when Nifty Future trades below 5040 with stop loss of 5080. On the down side, fall below 5000 we reaffirm the weakness and fall could accelerate. On the downside below 5000, 4950 will provide support. 

Market Report

Infosys in advanced talks to buy US company for $450-500 million

Taksheel Solutions to launch Rs 80cr IPO on Sept 29

Jayaswal Neco plans Rs 3700cr capex for capacity expansion

Bangalore microfinance firm Ujjivan to receive $21m funding

TCS, Felda Prodata sign a strategic collaboration

‘JP Morgan fund to invest $400 mn in SKIL’

Essar-Atlanta JV gets Rs1,043.5 cr NHAI road project

Maran to inject Rs 130cr into Spicejet for 5% stake

Tata Steel invests 500,000 pounds in UK's Dudley plant

Market Report

Govt relaxes FII investment rules in long-term infra debt

MARG ventures into fabrication of railway wagons

Forster's exit not to impact JLR turnaround: Tata Motors

Pipavav, Mazagon Dock in JV to build warships, subs

Maruti to start hiring new workers for Manesar plant from today

Defence ministry nod for 10% disinvestment in HAL

Neyveli Lignite to set up 4,000 MW plant in TN at a cost of Rs 20,000 cr

Market Report

Markets close up 1.11% on positive global cues

TD Power Systems to list shares today

Shipping Corp eyes stake in Bharti, Pipavav ABG shipyards

Jubliant Life Sciences gets US FDA nod for antiulcer drug

First Solar to supply 100MW solar module for RPower project

UKbased BG Group in talks to buy stake in ONGC's assets

Aurobindo Pharma inks JV with Russia’s Diod for generic, OTC products

Aditya Birla Capital raises Rs220 crore in PE fund

Hero MotoCorp to start dropping Honda brand

Microlender Bandhan raises $30 mln from IFC

LIC hikes stake in PFC to 5.01%

Market Report

RBI to reintroduce inflationindexed bonds

TCS bids $500 mn for Lufthansa IT unit

Ramky Infra bags Rs 1,006 cr contracts

ONGC's 42.8 cr shares FPO to open on Sept 20

NTPC, CEB to set up 500 MW power plant in Sri Lanka

Cairn projects 3 lakh bpd production from Rajasthan oil block

Health Impetus to enter US pharma market

Rico bags export order of up to Rs 70 cr per annum

Religare’s retail issue to pay between 12.00-12.50% to investors

ONGC starts oil, gas production from GS15 field

GCPL completes acquisition of 51% stake in Darling Group

Tata Sons further hikes stake in Tata Steel to 28.67%

Market Report

Food inflation at 10.05% on Aug 20 YoY
Suzlon planning $1.3 bn wind project to power Australian homes
Dr Reddy's, Pfizer settle litigation over Lipitor
Insecticides India plans to raise Rs70 crore
RIL completes $7.2 bn deal with BP
Religare forms panel to boost efforts for banking foray
Govt approves 5% stake sale in BHEL
Reliance Capital, Nippon Life in pact for possible tieups
Jyothy Laboratories sags under weight of Henkel acquisition