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Indian Markets Open Weak
Wed, 9 Dec 09:30 am

Major Asian stock markets have opened the day in red, with stock markets in Indonesia (down 1.3%) and Japan (down 1%) being the top losers. Major stock indices in Europe ended their previous session on a dismal note. However, markets in US ended their day marginally lower by 0.08%. The rupee is trading at 66.79 per US dollar.

Indian stock markets too have opened the day on a negative note. BSE-Sensex is trading lower by 50 points (down 0.2%) and NSE-Nifty is trading lower by 8 points (down 0.1%). Both S&P BSE Midcap and S&P BSE Smallcap are trading lower by 0.3% and 0.1% respectively. Barring capital goods sector, major sectoral indices have opened the day in red. Stocks from pharmaceutical sector and metal sectors are the facing maximum brunt.

As per an article in leading financial daily, Tata Motors is set to launch its new model named 'Zica' in the entry level segment in the month of January. The car will compete directly against the like of 'Hyundai Grand i10' and 'Maruti Suzuki Celerio'. Zica is set to be launched in a price range of Rs 4 lakh.

Zica will be available in two variants 'petrol' and 'diesel'. The engines developed for this model are totally new. The petrol version boosts of a 1.2 litre, three cylinder engine generating a peak power of 85ps. whereas, diesel version boosts of a 1 litre, three cylinder engine generating a peak power of 70ps.

Over the last few years, Tata Motors had lost considerable market share in the passenger vehicles space on account of fierce competition and lack of new product launches. In the last one year, though, Tata Motors has been looking to correct this and focus more on launching new models.

As per an article in leading financial daily, consumption of petroleum products have risen to a five year high. Recent data shows that the consumption of petroleum products grew by 17.5% on a MoM basis.

The spurt in fuel consumption was led by higher growth in the economy, increased automobile sales, initiation of projects on national highways and state highways, increased use of diesel set generation for irrigation due to deficient rainfall.

Reportedly, new number on consumption of petroleum products are attributed both to one off factors and a larger trend of pick up in the economic activity.

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Please Note: The stock price of Yes Bank on NSE-50 is not adjusted for face value split. Kindly refer to its BSE's quote today for the adjusted price.

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