Given that an average person spends four hours each day (translating to 60 days in a year) commuting in his car, manufacturers are working overtime on a host of innovative technologies aimed at making the drive less stressful.
Equity benchmarks remained in a positive terrain amid consolidation as investors awaited the outcome of Federal Reserve's two-day policy meeting that will be announced Wednesday tonight.
Tata Motors as well as Tata Motors (DVR) climbed 5 percent each intraday Tuesday after around 5 crore equity shares (representing 1.7 percent of paid up equity) changed hands in multiple block deals.
Tata Motors shares climbed 4 percent intraday Thursday on solid JLR sales growth in China and North America.
Equity benchmarks as well as broader markets climbed over a percent in morning trade, driven by positive global cues. Even the withdrawal of incremental CRR hike boosted the sentiment further.
Equity benchmarks remained under pressure as the Sensex was down 385.10 points or 1.47 percent at 25765.14 and the Nifty down 145 points or 1.80 percent at 7929.10, erasing all 2016 gains.
Equity benchmarks remained lacklustre due to lack of domestic as well as global cues. Current consolidation suggested that so far, the market seems to have priced in the effect of demonetisation on equities. Now the street will closely watch its effect on Q3 earnings that will be announced in January.
Dalal Street succumbed to more selling on Tuesday as the demonetisation effect and weak earnings drove the Sensex lower by 565 points and the Nifty below 8100 intraday. Strengthening of bond yields and US dollar on US president elect Donald Trump policy also weighed on market sentiment.
Tata Motors shares fell 2.7 percent intraday Wednesday after sharp decline in Land Rover's North America sales in October and amid weak market conditions due to uncertainty over US elections.
Tata Motors, the commercial vehicle and passenger car manufacturer, has reported a 21 percent growth in its October sales, driven by all segments.
Equity benchmarks recovered early losses with the Nifty rising over 8600 level on first day of November series. Select Tata Group stocks like Tata Motors and Tata Steel rebounded sharply on short covering after sharp sell-off in previous three consecutive sessions due to Tata-Mistry issue.
Benchmark indices continued to trade lower in afternoon due to consistent sell-off in technology, Tata Group and HDFC Group stocks. The 30-share BSE Sensex was down 85.90 points at 28093.18 and the 50-share NSE Nifty declined 18.40 points to 8690.55.
Equity benchmarks extended losses in morning trade with the Nifty falling below the 8700 level due to profit booking.
Equity benchmarks extended gains on Monday with the Nifty closing above 8700 level for the first time since October 6, supported by ICICI Bank, Tata Motors and ONGC. Positive global cues also lifted the market sentiment.