Index Trends And Stocks In Action For April 09, 2014

Indian Equity market ended flat after a volatile session amid stock specific activity. Realty stocks after stupendous rally declined on profit taking. Bank, Power and Consumer durables stocks too closed on weak note. Capital goods stocks were under the hammer but bounced back later on in the session and ended off their lows. On daily charts Nifty has formed a perfect doji candlestick pattern, this candlestick represent indecision between buyer and seller. Going ahead Nifty has strong support around 6650, as long as Nifty does not breach this support zone the bulls can again push it up. On upside Nifty has strong resistance around 6730 and next resistance is around 6755.

Maruti Suzuki India (BSE Code: 532500) has told dealers to stop the sale of specific batches of its popular Swift hatchbacks and DZire compact sedans because of a loose-fitting fuel cap and is contemplating the recall of about 1 lakh of the second-generation models already sold to customers or forming part of the inventory. The defect means that fuel caps can't be screwed down properly leading to the chance of fuel loss through evaporation and odour leaking into the cabin. Fixing this requires replacement of the relevant parts. The stock may witness volatility in today’s trade.

Suzlon Energy (BSE Code: 532667) has signed an loan agreement worth Euro 850 million with a consortium of banks for funding its working capital requirements and expansion plans.  Suzlon Group's German subsidiary Senvion SE signed an agreement for a loan of Euro 850 million (over Rs 7,000 crore) with consortium of banks for a 3 year period. The stock may remain in focus in today’s trade.

IT services firm Tech Mahindra (BSE Code: 532755) has set up a new 120-seater delivery centre in Antwerp, Belgium, a move aimed at strengthening its operations in the European region. Following the recent opening of a delivery centre in Dusseldorf in Germany, this new Belgian facility is the next important milestone in the growth journey as the company derives 31% of its revenues from European markets. The stock may remain in limelight in today’s trade.

Oil India (BSE Code: 533106) raised USD 1000 million through issue of dollar bonds. The company has raised funds through dollar bonds. Dual tranche USD REG S new issuance for Oil India, priced at T+222.5 for USD 500million five year first tranche and T+272.5 for USD 500million 10 year bond second tranche. The stock may remain in focus in today’s trade.