Vehicle sales failed to impress this festive season, as consumer sentiment fell. Registrations of vehicles in the domestic market during the 42- day festive season this year fell by as much as 11% year-on-year.
What's worrisome is that it is normally a peak period for new vehicle registrations in the country. Worse, the decline comes on the heels of sales contraction in the three months of July, August and September.
The auto index has taken a beating too. The BSE Auto index shed 20% between July and end-October before recovering marginally this month. Where can auto stocks go from here? Listen in.
Moving on, LIC is all set to take over the debt-laden IDBI bank, as the Competition Commission of India gave its nod for a 51% acquisition in the bank.
What does Equitymaster think about the proposed acquisition? Tune in to find out!
Further, we also look at the latest updates in the crude oil markets. Crude oil has fallen over 30% after peaking in October. Where could it go from here. Listen in now!
For information on how to pick stocks that have the potential to deliver big returns, download our special report now!
Read the latest Market Commentary
What else is happening in the markets today? Dig in...
Indian share markets end deep in the red with the Sensex down by 1,939 points and the Nifty ending down by 568 points.
ONGC share price is trading down by 7% and its current market price is Rs 118. The BSE OIL & GAS is down by 4.0%. The top gainers in the BSE OIL & GAS Index is CASTROL INDIA (up 1.3%). The top losers are ONGC (down 7.1%) and GAIL (down 6.3%).
ULTRATECH CEMENT share price is trading down by 5% and its current market price is Rs 6,487. The BSE 500 is down by 3.4%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 10.4%) and JAGRAN PRAKASHAN (up 10.0%). The top losers are ULTRATECH CEMENT (down 5.0%) and BAJAJ FINSERV (down 6.3%).
JAGRAN PRAKASHAN share price is trading up by 10% and its current market price is Rs 60. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are JAGRAN PRAKASHAN (up 10.1%) and RCF (up 11.0%). The top losers are MAHINDRA CIE AUTO. and AJANTA PHARMA (down 0.1%).
UPL share price is trading down by 5% and its current market price is Rs 589. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are UPL (down 5.4%) and BAJAJ FINSERV (down 6.2%).
ICICI LOMBARD GENERAL INSURANCE share price is trading down by 5% and its current market price is Rs 1,479. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are ICICI LOMBARD GENERAL INSURANCE (down 5.2%) and BAJAJ FINSERV (down 6.2%).
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