Bulls have accelerated to crossed 12K mark once again & this time it has settled above 12,000.
Multiple reasons unfolded simultaneously,
1) Rupee strengthens to 69.26 i.e. more than half percent.
2) Crude oil price falls continue due to trade war conflict.
3)0.25 BPS or more Repo rate may cut on the 6th June RBI meeting.
4) Mixed Auto Sales numbers:-
Hero motocorp - sales jump to 13% compared to last month April'19 and it was way better than expected.
Stock surge 5% closes to 2840.25 on NSE
Bajaj auto - sales increased by 3% compared to last year May 2018.
The stock surge to 3.7% closes to 3034.60 on NSE.
Tata Motors posts a 26% drop in sales in May 2019 compared to last year.
M&M also posts a 2% drop in sales in May 2019.
Eicher motors & Maruti's sales also dropped to 17% & 22% respectively compared to last year in May 2018.
In a rally of 12,100 Titan has made its 52 weeks high at 1269, the same HDFC and BPCL have also reached at 52 weeks high with 2235 & 333.50 respectively.
Other High gainers are Hero motocorp, Bajaj Auto, Asian paints, IndusInd Bank, Indiabulls housing, Coal India, HUL & Reliance.
Multiple reasons unfolded simultaneously,
1) Rupee strengthens to 69.26 i.e. more than half percent.
2) Crude oil price falls continue due to trade war conflict.
3)0.25 BPS or more Repo rate may cut on the 6th June RBI meeting.
4) Mixed Auto Sales numbers:-
Hero motocorp - sales jump to 13% compared to last month April'19 and it was way better than expected.
Stock surge 5% closes to 2840.25 on NSE
Bajaj auto - sales increased by 3% compared to last year May 2018.
The stock surge to 3.7% closes to 3034.60 on NSE.
Tata Motors posts a 26% drop in sales in May 2019 compared to last year.
M&M also posts a 2% drop in sales in May 2019.
Eicher motors & Maruti's sales also dropped to 17% & 22% respectively compared to last year in May 2018.
In a rally of 12,100 Titan has made its 52 weeks high at 1269, the same HDFC and BPCL have also reached at 52 weeks high with 2235 & 333.50 respectively.
Other High gainers are Hero motocorp, Bajaj Auto, Asian paints, IndusInd Bank, Indiabulls housing, Coal India, HUL & Reliance.
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