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Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities, said that FPIs may take some money off the table to maintain caution as concerns over interest rate hikes by the US Federal Reserve in July once again come up.

In the domestic equity market, the 30-share BSE Sensex advanced 149.62 points or 0.23 per cent to 65,430.07. The broader NSE Nifty also rose 59.50 points or 0.31 per cent to 19,391.30. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Friday as they purchased shares worth Rs 790.40 crore, according to exchange data.

Tata Motors, incorporated in the year 1945, is a Large Cap company (having a market cap of Rs 207899.55 Crore) operating in Auto sector.

The August gold futures were trading at Rs 58,705 per 10 grams on the MCX around 9:10 am and were down by Rs 77 or 0.13% from the Friday closing price. Meanwhile, September Silver futures were trading at Rs 71,131, lower by Rs 179 or 0.25%.

The Relative Strength Index of the stock stood at 63.11 on Monday.

Morgan Stanley downgraded Titan Company to Equal Weight with a target price of Rs 3207. The outperformance is likely to see a temporary pause. High gold prices are likely to impact discretionary consumption. The business growth momentum is likely to slow down a bit in the next couple of quarters.

​Similarly from a margin standpoint you have seen commodities basically moderate significantly and price hikes have already been taken and now commodities have started to moderate at least in the last six months so that is going to be positively impacting margins.

The stock gave a breakout from a swing high of Rs 9,800 earlier in July 223 to hit a fresh record high of Rs 10,036 on 5th July 2023, but investors preferred to book profits post the breakout which pushed the stock below Rs 9,900 level.

​​But the perspective is we are not heading into a deep recession globally. China is sluggish right now but if it sees a semblance of recovery, if commodities actually go up, which is both crude and other commodities that could sort of spoil the story.

The airline had also recently informed about entering into a settlement agreement with Nordic Aviation Capital (NAC), a major lessor for its Q400 aircraft, where it settled all past liabilities for the Q400s planes leased by NAC to SpiceJet. The airline presently operates five Q400 aircraft from NAC in its fleet.