Markets at a glance

As a result of negative global cues, the week started with a huge fall on Monday, when the Sensex closed 771 points lower. During the week, the markets remained volatile and closed with minor gains on Thursday.

Mid-caps and small-caps, which were outperforming the large frontline stocks in the last few days, were also in correction mode as the breath turned negative. Over the week, the BSE Midcap index corrected 4.85 per cent. IT stocks which were facing selling pressure gained as the rupee took a knock vs the dollar.

What to expect this week
The market is expected to be volatile and may be range bound. The near term trigger is expected to be the Gujarat election results and thereafter the start of the results season in January.

Analysts say the market is consolidating at current levels and is showing signs of resilience on the back of better advance tax numbers and higher amounts raised by domestic mutual funds and insurance companies

Stock to watch  

TATA MOTORS
Last week's close (Rs)	710.53
Prev week's close (Rs)	744.65
Week's high (Rs)	749.20
Week's low (Rs)	680.60
Last week's avg daily turnover (Rs cr)	109.53
Prev week's avg daily turnover (Rs cr)	67.09
Number of up/down moves	2/2

Tata Motors has been in the news due to its $2 billion bid for Jaguar and Land Rover which the market believes is too ambitious. This has also reflected in its share price, which at Rs 710 is down 30 per cent over the year and 5 per cent for the week.

Analysts say that the market is giving a thumbs down as it believes that the two brands would put an enormous strain on Tata Motors' balance sheet. If the deal is kept out of the calculations, there are a number of positives for the auto maker.

A stable interest environment, higher freight rates, robust sales "� all indicate a turnaround in the fortunes of its bread-and-butter commercial vehicle business. Its alliances with global auto majors, a slew of launches over the next four quarters and its dominance of the CV market gives it a good base for expansion.