Home / Markets / Stock Markets /  Sensex up 350 pts, Nifty above 17,600; Divi’s Lab, Tata Motors among top gainers
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Asian stock markets fell today as investors focused on developments in the crisis surrounding property giant China Evergrande after the firm suspended trading in its shares.

The Hang Seng plunged 2.5% while the Nikkei is trading lower by 1.2%. The Shanghai Composite is up 0.9%.

In US stock markets, Wall Street indices surged to a higher close on Friday, entering the final quarter of 2021 in a buying mood boosted by positive economic data and Washington developments on the potential passage of an infrastructure bill.

The Dow Jones Industrial Average rose 483 points, or 1.4% while the Nasdaq Composite rose 0.8%.

Back home, Indian share markets have opened on a positive note, following the trend on SGX Nifty.

The BSE Sensex is trading up by 351 points. Meanwhile, the NSE Nifty is trading higher by 98 points.

NTPC and M&M are among the top gainers today. Tata Steel, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index have opened higher by 0.8% and 1%, respectively.

All sectoral indices are trading in green with stocks in the pharma sector and realty sector witnessing most of the buying interest.

Shares of Tata Investment and Abbott India hit their 52-week highs today.

The rupee is trading at 74.17 against the US$.

Gold prices are trading up by 0.1% at 46,283 per 10 grams.

Meanwhile, silver prices are trading down by 0.1% at 60,513 per kg.

Gold hit a near two-week peak today, as a weaker dollar offset bets that the US Federal Reserve could begin tapering its pandemic-era asset purchases soon.

Crude oil prices fell today ahead of an organization of the petroleum exporting countries (OPEC+) supply policy meeting that may decide whether a recent rally in prices can be sustained as the world fitfully recovers from the Covid-19 pandemic.

In news from the automobile sector, Hero MotoCorp and Eicher Motors are among the top buzzing stocks today.

India’s largest two-wheeler maker Hero MotoCorp reported a 25.9% dip in total sales to 5,30,346 units in September. The company had sold 7,15,718 units in the same month of the previous year.

In the domestic market, the company's wholesales dropped to 5,05,462 units last month from 6,97,293 units in September 2020.

However, exports increased to 24,884 units last month as against 18,425 units in the year-ago period.

Meanwhile, Eicher Motors’ subsidiary VE Commercial Vehicles (VECV) had sold 6,070 units of commercial vehicles in September 2021, registering a growth of 73.1% on a YoY basis.

VECV, the unlisted subsidiary of Eicher Motors, had sold 3,506 units of commercial vehicles in September 2020.

The commercial vehicles sales are higher by 26.6% as compared with 4,793 units sold in August 2021.

Total exports rose 54.5% to 788 units in September 2021 over September 2020.

Sales of Volvo trucks & buses remained flat at 56 units.

Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles.

Eicher Motors share price has opened the day down by 0.5%.

Speaking of Eicher Motors, note that Siddhartha Lal is credited with turning around Eicher Motors’ fortunes through his razor-sharp focus on building the Royal Enfield brand and striking a joint venture deal with Swedish truck and bus maker Volvo.

When Siddhartha Lal entered the family business in the year 2000, Eicher's management was examining a sale or shutdown of the Royal Enfield business.

This was because at that time, Royal Enfield's motorcycle sales totaled 2,000 units per month.

From 2,000 units in the year 2000, Royal Enfield sells 70,000 units a month on an average at present.

Royal Enfield sales 
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Royal Enfield sales 

The sales for few months in the past year were impacted due to the impact of nationwide lockdown.

Moving on to news from the IPO space, the primary market is set for a flurry of initial public offerings (IPOs) in the October-December period.

As many as 35 companies are planning to raise a record 800 bn in the third quarter. In comparison, the previous record for a calendar year was in 2017 when 36 companies raised 671.5 bn.

Paytm, Aadhar Housing Finance, Star Health & Allied Insurance, Policybazaar, Emcure Pharma, Adani Wilmar, and Nykaa are among the most awaited.4

Meanwhile, Paradeep Phosphates, Vedant Fashions, CMS Infosystems, and Northern Arc are also expected to tap the primary markets.

Policybazaar and Nykaa are most likely expected to launch their IPOs this month.

With equity markets trading at record-high levels, market experts suggest that the IPO euphoria is likely to continue in the coming months with ample liquidity.

There’s also strong support from foreign portfolio investors (FPIs).

So far this year, 42 companies have hit the primary market, raising a record 696.8 bn.

FPIs contributed to nearly 55% of the funds raised in the IPOs so far in 2021.

How the IPO activity pans out amid renewed interest from investors, remains to be seen.

(This article is syndicated from

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