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Stocks of major auto-making companies will track the broader market next week in the absence of any stock-specific triggers. Tata Motors is seen trading with a positive bias on the back of strong global sales numbers announced yesterday. In the broader market, stock indices ended down yesterday on profit booking, but off their intraday lows in the last hour of trade. After rising for four consecutive sessions, the National Stock Exchange's 50-share Nifty ended 20.10 points, or 0.3% lower at 6776.30.
General Elections have taken centre stage from this week and three phases of polling have been completed. It is likely to continue for the next week as well, because the fifth phase of polls are slated to be held on Thursday. Maruti Suzuki could be slightly negative on opening next week. The country's largest passenger car manufacturer said in late trading hours yesterday that it will start recalling total 103,311 units of its Ertiga, Swift and Dzire vehicles manufactured between Nov 12 and Feb 4 from yesterday itself. Maruti Suzuki stocks fell 1.2% on the news. Two-wheeler stocks are seen positive for the medium term.
Stocks of major auto-making companies will track the broader market next week in the absence of any stock-specific triggers. Tata Motors is seen trading with a positive bias on the back of strong global sales numbers announced yesterday. In the broader market, stock indices ended down yesterday on profit booking, but off their intraday lows in the last hour of trade. After rising for four consecutive sessions, the National Stock Exchange's 50-share Nifty ended 20.10 points, or 0.3% lower at 6776.30.
General Elections have taken centre stage from this week and three phases of polling have been completed. It is likely to continue for the next week as well, because the fifth phase of polls are slated to be held on Thursday. Maruti Suzuki could be slightly negative on opening next week. The country's largest passenger car manufacturer said in late trading hours yesterday that it will start recalling total 103,311 units of its Ertiga, Swift and Dzire vehicles manufactured between Nov 12 and Feb 4 from yesterday itself. Maruti Suzuki stocks fell 1.2% on the news. Two-wheeler stocks are seen positive for the medium term.
