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Market Outlook:-
Shares of Tata Motors rose over 6 percent intraday riding
high on its robust Jaguar Land Rover sales in US market. It has seen second
consecutive month of strong JLR Sales in the US. Tata Motors'15 percent of JLR
sales comes from the US markets.
Taro Pharma, the subsidiary of Sun Pharmaceutical Industries, disappointed
street with its July-September quarter earnings. Profit (net income) was down 7
percent to USD 133.3 million during the quarter compared to USD 143.4 million
in year-ago period, impacted by lower revenue and weak operational performance.
Nifty PCR-OI has increased to 1.00 from 0.97. Rise in the
ratio may be due to increase in PE of 8000 and decrease in CE of 7500. PE of
8000 and CE of 8200 are highest number of contracts traded.
The BSE benchmark Sensex, which rose to 26,800.06 in opening trades, gaining
about 210 points in the process, is currently up 140.25 points or 0.53% at
26,730.84. The Nifty index of the National Stock Exchange is up 32.50 points or
0.4% at 8093.20, after advancing to 8116.10 in early trades.
Spot gold had ticked up 0.4 percent to $1,121.30 an ounce
by 0036 GMT, after sliding over 4 percent in the last five sessions.
Gold steadied after a five-day slide on Wednesday, but
stayed within striking distance of a four-week low as investors positioned for
a U.S. rate hike this year.
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