Sensex starts on a cautious note,
Nifty tests 8700; Tata Motors slips over 5%
The market opened
flat with negative bias on Friday. The Sensex fell 26.73 points to 28824.24 and
the Nifty declined 2.40 points to 8709.30. About 434 shares have advanced, 225
shares declined, and 149 shares are unchanged.
M&M, HDFC Bank, Bharti
Airtel, Hero Motocorp, BPCL, Bank of Baroda and DLF were down 0.4-1.8 percent
while Cipla, ONGC, Hindalco, Sesa Sterlite, Reliance Industries and Cairn India
gained 0.8-2.5 percent.
From the earnings corner, Tata Motors reported
disappointing Q3 numbers. Jaguar Land Rover (JLR) margins came in below
estimates. The company’s standalone business was hit by one off provisions as
the management made a one time provision of Rs 310 crores for write offs at
Singur plant. The stock lost 5 percent.
Earnings to watch out for
today will be Tata Steel and NMDC. According to a CNBC-TV18 poll, Tata Steel's
total turnover will fall 4 percent to Rs 35400 crore while profits may plunge
58 percent. Meanwhile, NMDC may see a 4 percent drop in profits.
The Indian rupee opened at 61.69 per dollar on
Friday against previous day's closing value of 61.73 a dollar.
Stock Tips for a Day:
BUY JUBILANT FOOD (LCP-1431.95) ABOVE 1434
TG-1443-1455
BUY BPCL (LCP 750) ABOVE752 TG-757-765
BUY SRF (LCP 979.1) ABOVE 982 TG-988-995
BUY WHEELS (LCP-1511.75) ABOVE 1515 TG-1525-1538
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