Index Trends And Stocks In Action August 27, 2014

Indian Equity market ended flat amid a highly volatile trading day. The indices opened with minor gains. However as the day progressed selling pressure intensified and nifty index slipped well below 7900 mark. But the bulls manage to take support around levels of 7950 and took u turn in the closing hour led by gain in Healthcare, IT, Auto and FMCG stocks. Nifty on daily chart has formed bullish harami candlestick pattern, this hints reversal and continuation of previous trend. The momentum oscillators are indicating bullishness outlook. Unless the levels between 7850-7810 are broken decisively the bulls would retain their initiative. On upside fresh momentum is expected only if nifty cross hurdle of 7950-7960.

Eros International Media Ltd (BSE Code: 533261) and Viacom18 Motion Pictures have joined hands through an international distribution agreement. The deal includes four-films, the first of which is the upcoming Priyanka Chopra starrer biopic film on Mary Kom will be released internatioanlly in 250 screens on September 5. The stock may trade with a positive bias in today’s trade.

Neyveli Lignite Corporation’ (BSE Code: 513683) contract workers at the has threatened to go on an indefinite strike from September 10 if the management fail to initiate process to regularize the services of all the contract workers according to the June 3, 2012 settlement deed and the Supreme Court's order on May 3, 2013. There are about 13,000-odd contract workers at the NLC. The stock may trade with a negative bias in today’s trade.

Rural Electrification Corp (BSE Code: 532955) will seek shareholder approval to raise up to Rs 35,000 crore through secured/unsecured non-convertible bonds on a private placement basis. The company is slated to hold AGM of its shareholders on September 18. The stock may trade with a positive bias in today’s trade.

Spot rubber fell below the Rs 130 a kg due to weaker cues from domestic and global futures. Spot rubber rates (Rs/kg): RSS-4: 129; RSS-5: 125; Ungraded: 117; ISNR 20: 111 and Latex 60%: 89 (91). This news will attract a huge attention in tyre manufacturing companies like MRF, Ceat, JK Tyres, Balkrishna Ind, TVS Srichakra and Apollo Tyres.