Moneycontrol's Sakshi Batra does a 3 Point Analysis of how the higher taxes on fuel are helping the government augment its dwindling coffers.
According to a price notification of state oil marketing companies, Petrol price in Delhi was hiked to Rs 73 per litre from Rs 72.46 per litre on Monday, while diesel rates were increased to 71.57 per litre from Rs 70.59 a litre.
According to Oil Ministry sources oil marketing companies (OMCs) may allow to announce Rs 5 per litre petrol hike in 24-48 hours, reports CNBC-TV18.
After the petrol price hike, autos stocks have been quite weak. Mehraboon Irani, Nirmal Bang Securities says, a correction possibly should induce people to go in for defensive buying in Bajaj Auto and Hero MotoCorp.
In his analysis of the day’s market movement on CNBC-TV18, Anand Tandon, CEO, JRG Securities, explains the reasons for uncertainity in the market
Udayan believes it is "not a great start to the week as there is still pressure on the market." Also, notes that though "the market has not broken important levels but that grinding around that 5,500 level with an inclination to drop further below is not a great start to the week."