Money on the markets
A maturing market amid the mayhem
Shares in Tata Motors snapped a two-day fall and ended nearly 1 percent higher at 778 rupees.
Tata Sons, the holding entity for Tata Group firms, and Citigroup acquired 8.65 million shares in Tata Motors, according to BSE data released Tuesday.
Shares in the Tata Motors, which has a market value of $9.1 billion fell over 6 percent in intra-day trade Tuesday as German carmaker Daimler is selling its entire stake in Tata Motors for up to $429 million.
Do you think shares in the counter might fall further?
Metal stocks had a weak trading day at the bourses with the BSE Metal Index posting losses of 1.56 percent to end as the top sectoral loser.
All stocks in the sectoral index, except Welspun Gujarat, closed in the red. Gujarat NRE Coke led the losers with a 4.4 percent fall.
The BSE Auto Index gained 1.79 percent on Monday in a broader market that ended 0.6 percent higher at 17,102.
The rise in the Auto Index was led by MRF, Hero Honda, M&M and Maruti Suzuki.
Mahindra & Mahindra topped the list of gainers in the sectoral index as well as the main benchmark index, closing 4.3 percent higher at 1122 rupees with volumes of 0.2 million.
Shares in Sulzer India jumped 20 percent for the second day to hit upper circuit at 1,243.65 rupees on hopes Switzerland-based parent Sulzer Ltd would offer a higher price for the 20 percent it does not own and delist the engineering products company.
Suzler India ended with volumes of 0.04 million shares its highest since October 2009.
The BSE Auto index gained over 4 percent on Tuesday in a broader market that ended 2.09 percent higher at 16,772.
The rise in the BSE Auto index was led by MRF, BOSCH, Tata Motors and M&M.
Shares in Tata Motors rallied more than 12 percent on Tuesday afternoon as investors cheered strong sales growth in February. Shares in the counter ended at 797 rupees.
When the finance minister presents the budget, the stock market moves one way or the other.
And like every year this will dominate the news.
Over there and everywhere.
Is that fair? Or convincing?
Some of the analysis will follow a pattern.
If the stock market goes up, the budget may be described as successful because it didn’t “rock the boat”.
The BSE real estate index gained nearly 1 percent on Wednesday even as the overall market ended 30 points lower.
Indiabulls Real Estate led the realty index and posted gains of over 4 percent. Parsvnath ended nearly 3 percent higher.