Tata Motors fell 4.38%, Nifty Auto closed in the red

Delhi Delhi. Tata Motors shares fell 4.38% to ₹ 840 in today’s trading session. The Sensex jumped 0.44% to 80,353.68, while the Nifty reached 24,448. On technical aspects, the stock was trading below the short term simple moving average of 5, 10, 20 days, while it remained above the long term moving average of 50, 100 and 300 days. At around 11 am, Tata Motors shares were trading 85.29% higher than the previous trading session on NSE and BSE. While positive higher price movement with high volume suggests a possibility of a sustainable bounce, negative price movement in the same scenario may indicate further decline in stock prices.

There are reports that sales during Diwali may be lower than expected. According to reports, rising cost of living and rising food inflation are reducing the purchasing power of middle-class consumers. Fast-moving consumer goods (FMCG) sales also reported a slowdown in consumer spending, while quick service restaurant (QSR) companies reiterated a sluggish quarter. While expectations remain high during the Diwali season, estimates suggest it is unlikely to materialise due to sluggish trends. Estimates from the Federation of Automobile Dealers Association (FADA) say auto dealers are reporting historically high inventory levels. The average is between 80 and 85 days, equivalent to 790,000 vehicles worth ₹79,000 crore. Notably, the Nifty Auto index is trading in the red as stocks have declined between 1% and 6%.