BSE Sensex set for a firm start in 2011
The BSE Sensex should open higher on Monday, tracking mostly firm Asian peers, and driven by automobile companies after they reported a rise in December sales.
January 03, 2011 / 10:56 IST
The BSE Sensex should open higher on Monday, tracking mostly firm Asian peers, and driven by automobile companies after they reported a rise in December sales.
Tata Motors said its India sales rose 31% in December while Hero Honda said its bike sales jumped by a third. Separately, Tata Motors raised prices of some vehicles on Saturday to counter what it said were mounting costs. Top utility vehicles maker Mahindra & Mahindra logged a 42% rise in sales last month. Patni Computer Services will be on the radar after US software company iGate said on Sunday it cancelled a news conference it had scheduled for Monday, at which it was expected to announce a deal with Apax Partners for a majority stake in the Indian firm. The MSCI's measure of Asian markets other than Japan was up 0.6% by 0309 GMT. The Nifty India stock futures in Singapore were up 0.3%.The main stock index rose 17.4% in 2010, performing better than the MSCI all-country world stock index in 2010 and were in line with the gains in the MSCI Emerging Markets Index.Stocks to watchJSW Steel Ltd, after Business Standard newspaper reported the steelmaker emerged as the highest bidder for debt-laden steel producer Bellary Steel & Alloys Ltd.Kingfisher Airlines, after the carrier said it had raised fuel surcharge on domestic tickets by up to Rs 200 due to rising jet fuel costs. TVS Motor Co Ltd, after the two-wheeler maker, said its total sales for December rose 42%. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
