Market gives a scare: The positive tone of the beginning of the markets this week was set down today with Nifty closing at 7829(-0.55%). Markets were flat throughout the day and on the global front also, mild to flat trend with the DJIA closing at 16370(-0.38%), S&P500 at 1953(-0.41%), FTSE100 at 6049(-0.38%) and NIKKEI225 at 18026(+0.34%)
Sectoral Outlook: The sectoral outlook was negative today with only three sectors in green. These sectors are CNX FMCG(+0.95%), CNX ENERGY(+0.24%) and CNX IT(+0.14%). The sectors which lost the most today are CNX METAL(-2.35%), CNX AUTO(-1.58%) and BANK NIFTY(-1.02%). The market breadth was negative today with 12 Advances and 38 Declines in Nifty.
Tata JLR making its entry into SUV market with launch of F-Pace model– Tata JLR has entered the SUV market with the launch of F-Pace model which is expected to hit the Indian market in the second half of 2016. The F-Pace SUV launched at the Frankfurt Motor Show has been dubbed the “ultimate practical sports car”, which embodies the spirit of the iconic British luxury car brand with modern technology. The F-Pace SUV is expected to hit the roads in Europe and the US in a phased rollout by early next year, with an Indian launch expected in the latter half of 2016. By the way you know, It has made its entry at the show with a spectacular ‘Guinness Book of Records’ breaking drive around a 19.1-metre-high loop driven in a daring stunt by racing driver Terry Grant.
Oil prices edge up after sharp falls in previous session – Oil prices edged up in the early session in today’s trade as traders closed short positions and took on new longs after markets tumbled in the previous session. Crude prices fell on Monday with the onset of lower demand autumn trading and as weak economic data out of China and soft gasoline prices RBc1 pressured the market. A broker said Today’s gains were mainly driven by market participants with short positions locking in profit following Monday’s falls, while other traders took the price fall as an opportunity to place new orders. Front-month U.S. crude futures were trading at USD 44.30 per barrel in today’s trade up 30 cents from their last settlement. Internationally traded Brent futures were up 32 cents at USD 46.69 a barrel.