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SGX Nifty Up 48 Points | Maruti Suzuki to Raise Prices| Cryptos on Dive with BTC below US$17,000 | Top Buzzing Stocks Today
Mon, 5 Dec Pre-Open

Maruti Suzuki to Raise Prices| Cryptos on Dive with BTC below US$ 17,000 | Top Buzzing Stocks Today

On Friday, Indian share markets continued their momentum and ended the day 0.7% lower.

Benchmark indices took a break from the record-breaking rally as traders awaited the monthly US jobs report. Indices shed around 0.6% in Friday's session with the auto index sinking the most

At the closing bell on Friday, the BSE Sensex stood lower by 416 points (down 0.7%).

Meanwhile, the NSE Nifty closed lower by 116 points (down 0.6%).

Tata Steel, Tech Mahindra, and IndusInd Bank were among the top gainers.

Mahindra & Mahindra, HUL, and Maruti Suzuki, on the other hand, were among the top losers.

Broader markets settled on a firm note. The BSE Midcap gained 0.8% while the BSE SmallCap index ended 0.7% higher.

If you're looking to invest in midcap stocks that offer growth in the long run, check out these 5 midcap stocks for long term.

Sectoral indices ended on a mixed note with stocks in the metal sector, oil & gas sector and realty sector witnessing heavy buying.

Stocks in the auto sector and power sector witnessed maximum selling pressure.

Shares of Raymond and CEAT India hit their 52-week highs today.

If you're interested in knowing which shares to trade, read our guide on the best intraday stocks for today.

The rupee was trading at 81.4 against the US$.

Gold prices for the latest contract on MCX were trading up by 0.1% at Rs 53,893 per 10 grams, at the time of Indian market closing hours on Friday.

At 8:20 AM today, the SGX Nifty was trading up by 48 points or 0.2% higher at 18,870 levels.

Indian share markets are headed for a positive opening today following the trend on SGX Nifty.

Speaking of stock markets, Richa Agrawal talks about Indian space stocks and how they could lead to wealth creation, in her latest video for Fast Profits Daily.

Richa discusses how the privatization in space is likely to open doors for many players in this sector.

Tune in to the below video to know more:

Top Buzzing Stocks Today

ONGC will be among the top buzzing stocks today.

The government has slashed the windfall tax to less than half on domestically produced crude oil and reduced the tax levy on diesel.

The tariff on crude oil generated by the state-owned ONGC was lowered from Rs 10,200 per ton to Rs 4,900 per ton. The tariff on diesel export was reduced from Rs 10.5 per litre to Rs 8 per litre.

The cess has been decreased as part of the eleventh review of windfall taxes to US$ 8.4/bbl as of 2 December 2022.

Godrej Properties share price will also be in focus.

The company has acquired 18.6 acres of land in Kandivali, Mumbai for a project. The project is expected to have a developable potential of 3.72 million (m) sq feet (approx.) with an estimated revenue potential of around Rs 70 bn.

Mh3>Maruti Suzuki to hike prices

The biggest automaker in India, Maruti Suzuki, revealed, on Friday, that it will be raising prices on all its models starting in January 2023. The decision was brought on by ongoing cost pressure from general inflation and recent regulatory requirements.

The amount of the proposed price increase was not, however, made public by the corporation.

Due to an increase in multiple input costs, Maruti Suzuki India announced a price hike for the hatchback Swift and all CNG variants earlier in April 2022. On all of its models, vehicle prices rose by 1.3%.

The corporation raised car pricing by about 8.8% between January 2021 and March 2022 due to ongoing increases in input costs.

Amara Raja Batteries to build state of the art research facility in Telangana

Amara Raja Batteries, inked a memorandum of understanding (MoU) with the Government of Telangana on Friday to establish a state-of-the-art lithium-ion battery research and manufacturing facilities in the Mahbubnagar district of Telangana.

The corporation plans to invest approximately Rs 95 billion (bn) over the following ten years, subject to required clearances.

The initial facilities would comprise Hyderabad's Amara Raja E-hub, an energy research and innovation Center.

It will be furnished with cutting-edge testing facilities and labs for material exploration, prototyping, product life cycle evaluation, and proof of concept presentations.

Along with creating job possibilities, the strategic relationship with the Telangana government would serve as a catalyst for sustainable technology advancements throughout the entire area.

The company would develop a commercial-scale pilot plant and the first giga-scale cell production facility as part of its journey toward Giga scale manufacturing of advanced cell technology products.

A maker of energy storage systems for both industrial and automotive uses in the Indian battery market, the business specializes in energy and mobility.

Cryptos dive lower

The crypto market was back in red on Friday after a steady run. Bitcoin, and Ethereum (ETH), were trading lower, with the trading volumes down for most altcoins.

The market capitalization of cryptocurrencies dropped by around 1.3% to US$ 851.1 bn, and their trading volume dropped by 12.2% to US$ 42.7 bn.

Bitcoin, the biggest and most used virtual currency in the world, inched lower by 1.2% to US$ 16,921.8. It was valued at US$ 325.1 bn on the market. In the previous seven days, the token has increased by 2.3%.

Ethereum, also known as Ether, the second-largest virtual currency, lost approximately 1% of its value to almost US$ 1,274 and a market worth of US$ 155.6 bn. In one week, the token increased by 7%.

Since cryptos interest, you, check out the best cryptos to invest.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


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