Indices at previous closing
Nifty50: 17,166 ▲+183 (+1.0%)
Sensex: 57,684 ▲+619 (+1.0%)
Nifty Bank: 36,364 ▲+669 (+1.8%)
For more updates on F&O, click here.
Two wheeler sales skid in November
Auto majors Hero MotoCorp, Bajaj Auto and TVS Motor reported a year-on-year decline of 41%, 12% and 17%, respectively, in their two-wheeler sales volumes in November. Despite this, share prices of these companies witnessed a mixed reaction.
As per Hero’s management, the delay in harvesting due to the late withdrawal of monsoon in many parts of the country impacted the two-wheeler demand post the festive season. However, it expects a swift revival in sales in the January-March quarter on the back of the marriage season and pick-up in economic activities.
Tata Power’s solar arm bags large order
Tata Power’s wholly-owned subsidiary has won an order worth ₹945 crore to build India’s largest solar and battery project. The 100 MW solar contract project and the 120 MWh battery storage system are to be executed within 18 months.
According to the company, Tata Power’s solar arm’s engineering procurement construction (EPC) order book stands at nearly ₹9,000 crore. Shares of Tata Power closed 3.8% higher yesterday.
Oil rallies on OPEC meet
Oil prices rose yesterday after the major oil producing nations met to discuss future oil output in the wake of the new virus variant leading to a fresh round of travel restrictions. The concern over the new variant coupled with oversupply had led to a sharp drop in oil prices recently.
Also, according to reports, OPEC+ expects the supply surplus to worsen by the start of 2022. Hence, analysts believe that the group of oil producing nations won’t step up their oil production to maintain the oil prices above the $70 per barrel mark. Meanwhile, US crude (WTI) prices were up over 2% yesterday.
Sectoral indices (December 1)
| Top gainers | Top losers |
|
Nifty PSU Bank ▲ 2.6% |
Nifty Pharma ▼ 1.6% |
|
Nifty Metal ▲ 2.3% |
NA |
Global markets (at 8:15 am today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.5% |
| Nikkei 225 (Japan) | ▼ 0.6% |
| Hang Seng (Hong Kong) | ▼ 0.0% |
| SSE Composite (China) | ▼ 0.2% |
| Dow Jones (US) (December 1) | ▼ 1.3% |
| NYSE (US) (December 1) | ▼ 1.1% |
| Nasdaq (US) (December 1) | ▼ 1.8% |
| S&P 500 (US) (December 1) | ▼ 1.1% |
Fact of the day
The world’s tallest LEGO tower is about 94 feet high, consisting of 465,000 bricks.
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