Asian shares slipped on Monday ahead of a week packed with a quintet of central bank meetings and data on US inflation.

The Nikkei is trading 1.6% higher while the Hang Seng index is trading 1.7% lower.

US stocks notched their highest closing levels since early 2022 after a robust US jobs report fuelled investor optimism about a soft landing for the economy.

Here's a table showing how US stocks performed on Friday:

Source: Equitymaster

At present, the BSE Sensex is trading 77 points higher and the NSE Nifty is trading flat.

ONGC and Coal India are among the top gainers today.

Cipla and Asian Paints on the other hand are among the top losers today.

Broader markets are trading on positive note. The BSE Mid Cap index is trading 0.5% higher and the BSE Small Cap index is trading higher by 0.7%.

Barring healthcare sector all other sectoral indices are positive today, with stocks in realty sector and energy sector witnessing most buying.

Shares of L&T Technology, IndusInd Bank hit their 52-week high today.

The rupee is trading at Rs 83.38 against the US dollar.

In commodity markets, gold prices are trading 0.2% lower at Rs 61,618 per 10 grams today.

Meanwhile, silver prices are trading 0.3% lower at Rs 72,329 per 1 kg.
 

Tata Motors to Hike Prices

Tata Motors on 10 December said that it will increase the price of its commercial vehicles effective from 1 January 2024, up to 3%.

The price increase is to offset the residual impact of the past input costs and will be applicable across the entire range of commercial vehicles.

Tata Motors sells a range of passenger vehicles starting with the hatchback Tiago to the premium SUV Safari priced between Rs 560,000 and Rs 2.6 m.

The company joins the likes of Maruti Suzuki, Mahindra & Mahindra, Honda, and Audi among others, which have also announced plans to increase vehicle prices in January.

India has mandated automakers to comply with stricter fuel efficiency norms from April this year and will also require all cars to have six airbags by October.

Meanwhile, even as key commodity prices have come off record levels, automakers have been resorting to price hikes to shore up margins in a high-inflation environment.

Tata Motors stock price hits record high in October. 

Cipla's arm recalls drug

Pharma major Cipla's wholly-owned subsidiary InvaGen Pharmaceuticals USA voluntarily recalled one lot of Vigabatrin for oral solution USP - 500 mg to the consumer level due to seal integrity issues that could lead to powder leakage from the pouch.

The product is used for the treatment of refractory complex partial seizures as adjunctive therapy in patients 2 years of age and older who have responded adequately to several alternative treatments.

The medication is packaged in foil pouches, each containing 500 mg of Vigabatrin, and there are 50 foil-sealed pouches in a shelf pack.

InvaGen Pharmaceuticals is notifying the customer level through press releases, letters, telefax, telephone, email, and on-site visits and is coordinating the return of all recalled products.

In case any adverse reactions or quality problems are experienced with the use of this product, Cipla said that the same can be reported to the FDA's MedWatch Adverse Event Reporting program either online, by regular mail, or by fax. To date, Cipla has not received any reports of adverse events related to this recall.

Pharmaceutical giant Cipla is reportedly exploring a stake sale, and contenders are cropping up in an intense competition. 

It is among the Top 5 Nifty 50 Stocks that Beat Earnings Estimates by a Wide Margin in Q1.

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