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Auto stocks decline

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Weakness persisted on the bourses in mid-morning trade. At 11:25 IST, the barometer index, the S&P Sensex, was down 214.52 points or 0.81% at 26,345.40. The 50 index was currently off 65.90 points or 0.8% at 8,127. Weakness in Asian stocks triggered decline on the domestic bourses.

Overseas, Asian markets were trading lower on global uncertainties as investors adopted a wait-and-see mood. Later today, 2 December 2016, the US Labor Department will release its closely watched monthly employment report for November.

Investors are awaiting US payrolls report for confirmation the US economy continues to strengthen, with an eye on an expected hike in benchmark US interest rates by the Federal Reserve at its meeting on 13-14 December. Investors are also concerned about Italy's constitutional referendum on Sunday, 4 December 2016 which could determine whether or not the country will remain in the euro zone.

A sharp decline in technology stocks pulled both the Nasdaq and the S&P 500 indexes into the red yesterday, 1 December 2016 while the Dow managed to notch a record closing high with a lift from bank and energy shares.

Closer home, the broad market depicted weakness. There were more than two losers for every gainer. On BSE, 1,507 shares declined and 696 shares rose. A total of 101 shares were unchanged. The Mid-Cap index was currently off 0.66%. The Small-Cap index was currently off 0.71%. The fall in both these indices was lower than the Sensex's decline in percentage terms.

Auto stocks declined. TVS Motor Company (down 2.28%), Escorts (down 0.61%), Mahindra & Mahindra (M&M) (down 1.07%) and Maruti Suzuki India (down 1.32%) fell. Ashok Leyland (up 0.71%) and Eicher Motors (up 2.11%) gained.

Tata Motors fell 1.32% after the company reported flat sales in November 2016. Tata Motors said its passenger and commercial vehicle total sales in November 2016 were at 38,900 units, almost flat compared with 38,918 vehicles sold in November 2015. The company's domestic sales of Tata commercial and passenger vehicles declined 6% to 33,274 units in November 2016 over November 2015. Exports surged 57% to 5,626 units in November 2016 over November 2015. The announcement was made after market hours yesterday, 1 December 2016.

shed 0.28% after the company said its total sales fell 13% to 2.69 lakh units in November 2016 over November 2015. Bajaj Auto's domestic sales fell 10% to 1.54 lakh units in November 2016 over November 2015. Exports declined 16% to 1.15 lakh units in October 2016 over October 2015. The announcement was made before trading hours today, 2 December 2016.

Total motorcycle sales fell 12% to 2.37 lakh units in November 2016 over November 2015. Total commercial vehicles sales fell 17% to 32,191 lakh units in November 2016 over November 2015.

Hero MotoCorp rose 0.08% after total sales declined 13.07% to 4.79 lakh units in November 2016 over November 2015. The announcement was made after market hours yesterday, 1 December 2016.

Hero MotoCorp, which posted record festive sales this year, saw a drop in retail sales after the demonetisation initiative when the entire industry also witnessed decline in sales. With the slew of measures being implemented by the government, and several initiatives immediately undertaken by Hero MotoCorp to support its dealers and consumers, the company expects the situation to steadily improve.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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Auto stocks decline

Weakness persisted on the bourses in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was down 214.52 points or 0.81% at 26,345.40. The Nifty 50 index was currently off 65.90 points or 0.8% at 8,127. Weakness in Asian stocks triggered decline on the domestic bourses.

Weakness persisted on the bourses in mid-morning trade. At 11:25 IST, the barometer index, the S&P Sensex, was down 214.52 points or 0.81% at 26,345.40. The 50 index was currently off 65.90 points or 0.8% at 8,127. Weakness in Asian stocks triggered decline on the domestic bourses.

Overseas, Asian markets were trading lower on global uncertainties as investors adopted a wait-and-see mood. Later today, 2 December 2016, the US Labor Department will release its closely watched monthly employment report for November.

Investors are awaiting US payrolls report for confirmation the US economy continues to strengthen, with an eye on an expected hike in benchmark US interest rates by the Federal Reserve at its meeting on 13-14 December. Investors are also concerned about Italy's constitutional referendum on Sunday, 4 December 2016 which could determine whether or not the country will remain in the euro zone.

A sharp decline in technology stocks pulled both the Nasdaq and the S&P 500 indexes into the red yesterday, 1 December 2016 while the Dow managed to notch a record closing high with a lift from bank and energy shares.

Closer home, the broad market depicted weakness. There were more than two losers for every gainer. On BSE, 1,507 shares declined and 696 shares rose. A total of 101 shares were unchanged. The Mid-Cap index was currently off 0.66%. The Small-Cap index was currently off 0.71%. The fall in both these indices was lower than the Sensex's decline in percentage terms.

Auto stocks declined. TVS Motor Company (down 2.28%), Escorts (down 0.61%), Mahindra & Mahindra (M&M) (down 1.07%) and Maruti Suzuki India (down 1.32%) fell. Ashok Leyland (up 0.71%) and Eicher Motors (up 2.11%) gained.

Tata Motors fell 1.32% after the company reported flat sales in November 2016. Tata Motors said its passenger and commercial vehicle total sales in November 2016 were at 38,900 units, almost flat compared with 38,918 vehicles sold in November 2015. The company's domestic sales of Tata commercial and passenger vehicles declined 6% to 33,274 units in November 2016 over November 2015. Exports surged 57% to 5,626 units in November 2016 over November 2015. The announcement was made after market hours yesterday, 1 December 2016.

shed 0.28% after the company said its total sales fell 13% to 2.69 lakh units in November 2016 over November 2015. Bajaj Auto's domestic sales fell 10% to 1.54 lakh units in November 2016 over November 2015. Exports declined 16% to 1.15 lakh units in October 2016 over October 2015. The announcement was made before trading hours today, 2 December 2016.

Total motorcycle sales fell 12% to 2.37 lakh units in November 2016 over November 2015. Total commercial vehicles sales fell 17% to 32,191 lakh units in November 2016 over November 2015.

Hero MotoCorp rose 0.08% after total sales declined 13.07% to 4.79 lakh units in November 2016 over November 2015. The announcement was made after market hours yesterday, 1 December 2016.

Hero MotoCorp, which posted record festive sales this year, saw a drop in retail sales after the demonetisation initiative when the entire industry also witnessed decline in sales. With the slew of measures being implemented by the government, and several initiatives immediately undertaken by Hero MotoCorp to support its dealers and consumers, the company expects the situation to steadily improve.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Auto stocks decline

Weakness persisted on the bourses in mid-morning trade. At 11:25 IST, the barometer index, the S&P Sensex, was down 214.52 points or 0.81% at 26,345.40. The 50 index was currently off 65.90 points or 0.8% at 8,127. Weakness in Asian stocks triggered decline on the domestic bourses.

Overseas, Asian markets were trading lower on global uncertainties as investors adopted a wait-and-see mood. Later today, 2 December 2016, the US Labor Department will release its closely watched monthly employment report for November.

Investors are awaiting US payrolls report for confirmation the US economy continues to strengthen, with an eye on an expected hike in benchmark US interest rates by the Federal Reserve at its meeting on 13-14 December. Investors are also concerned about Italy's constitutional referendum on Sunday, 4 December 2016 which could determine whether or not the country will remain in the euro zone.

A sharp decline in technology stocks pulled both the Nasdaq and the S&P 500 indexes into the red yesterday, 1 December 2016 while the Dow managed to notch a record closing high with a lift from bank and energy shares.

Closer home, the broad market depicted weakness. There were more than two losers for every gainer. On BSE, 1,507 shares declined and 696 shares rose. A total of 101 shares were unchanged. The Mid-Cap index was currently off 0.66%. The Small-Cap index was currently off 0.71%. The fall in both these indices was lower than the Sensex's decline in percentage terms.

Auto stocks declined. TVS Motor Company (down 2.28%), Escorts (down 0.61%), Mahindra & Mahindra (M&M) (down 1.07%) and Maruti Suzuki India (down 1.32%) fell. Ashok Leyland (up 0.71%) and Eicher Motors (up 2.11%) gained.

Tata Motors fell 1.32% after the company reported flat sales in November 2016. Tata Motors said its passenger and commercial vehicle total sales in November 2016 were at 38,900 units, almost flat compared with 38,918 vehicles sold in November 2015. The company's domestic sales of Tata commercial and passenger vehicles declined 6% to 33,274 units in November 2016 over November 2015. Exports surged 57% to 5,626 units in November 2016 over November 2015. The announcement was made after market hours yesterday, 1 December 2016.

shed 0.28% after the company said its total sales fell 13% to 2.69 lakh units in November 2016 over November 2015. Bajaj Auto's domestic sales fell 10% to 1.54 lakh units in November 2016 over November 2015. Exports declined 16% to 1.15 lakh units in October 2016 over October 2015. The announcement was made before trading hours today, 2 December 2016.

Total motorcycle sales fell 12% to 2.37 lakh units in November 2016 over November 2015. Total commercial vehicles sales fell 17% to 32,191 lakh units in November 2016 over November 2015.

Hero MotoCorp rose 0.08% after total sales declined 13.07% to 4.79 lakh units in November 2016 over November 2015. The announcement was made after market hours yesterday, 1 December 2016.

Hero MotoCorp, which posted record festive sales this year, saw a drop in retail sales after the demonetisation initiative when the entire industry also witnessed decline in sales. With the slew of measures being implemented by the government, and several initiatives immediately undertaken by Hero MotoCorp to support its dealers and consumers, the company expects the situation to steadily improve.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

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