Markets open marginally lower; Nifty above 13,000

Benchmark indices opened marginally lower on December 02, 2020, following mixed global cues. At 9:20AM, Sensex was at 44,651, while the Nifty was at 13,096.40, up 12.65 points.

The gainers on BSE include Maruti (+1.55%), M&M (+1.25%), Titan (+0.92%), Tata Steel, and Asian Paints. The losers incude Nestle, ICICI Bank and Kotak Bank.

On NSE, gainers are UPL, Tata Motors (+2%), while the losers include Infosys, Bajaj Finance, HDFC Bank stocks down marginally.

Asian markets opened mixed with the Japanese Nikkei seeing profit  booking in early trade & slipping 100 points. The other Asian indices were in the green led by the South Korean Kospi as technology stocks saw strong rebound in the US. Most Asian markets now trading near 3 year highs also see caution as overbought conditions in equity in the short term could see bouts of sharper than expected profit booking.

Sun Pharma Advanced Research, Tata Motors, Dr Reddy’s, Eicher Motors, will remain in focus today.

Also, Auto stocks will remain in focus, Tata Motors, Hero MotoCorp announced their sales numbers for November 2020. Tata Motors total sales rose 20.7% at 49,650 units against 41,124 units and total domestic sales rose 26% at 47,859 units versus 38,057 units, YoY.

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