Latest Stock Market News

The automobile sector has had a tough year, at least tougher than the rest, given the second wave of the pandemic and the acute shortage of semiconductors that forced them to close factories temporarily. And yet, there seems to be renewed hope for the sector.

Analysts pointed out that Nifty seems to be in a consolidation zone, at least in the medium term. And what is more, there is no clear direction that analysts note.

“Everything which is travel related is opening up and that along with anything consumption led should do well including the underperforming sectors like automobiles.”

While the bank reported Gross Non-Performing Assets (GNPAs) at Rs 16,323 crore in FY21, the Reserve Bank assessed it at Rs 17,023 crore, leading to a divergence of Rs 700 crore in gross bad loans.

“I do not foresee any price wars, I see only responsible pricing. Air India, so long being funded by public money did not price correctly.”

Investors fear that inflationary pressures may result in companies raising prices and its consequent impact on demand, thus resulting in a highly volatile trading session today.

A list with the names of about 100 global investors has been shared with the 10 banks working on the deal and the institutions will approach different sets of investors, according to people with knowledge of the matter who asked not to be named as discussions are private.

Arijit Malakar, Research Head, Ashika Stock Broking said, "The market declined sharply today despite positive cues from other markets. Domestic sentiments were impacted by surging inflation owing to a spike in demand and supply chain snags."

The digital token skyrocketed a whopping 2,37,000 per cent in a matter of hours. The price of this token hit $0.0001194 from merely $0.00000005033 during the period. However, it was trading at $0.00006449 at 11.30 am IST.

The pan-European STOXX 600 rose 0.1% by 0829 GMT, adding to a recent string of record gains, as a key meeting between U.S. President Joe Biden and Chinese leader Xi Jinping saw both sides signalling a stabilization in the fraught relationship.