Index Trends And Stocks In Action December 04, 2014

The Indian markets ended with modest gains amid volatility. The broader market outperformed the benchmark indices. The rate-sensitive stocks were in lime light yesterday along with capital goods and energy stocks, on other hand FMCG, IT and Pharma stocks witnessed some profit booking. On daily chat has formed potential doji candlestick pattern, after strong consolidation and correction. This suggests bulls will gain momentum in coming trading session. One more positive takeaway from Wednesday’s trading session is that bulls manage to defend low of 2nd December, 2014. Now going forward as long as nifty stays above 8480, its will continue to prosper. On upside 8568 will act as resistance level.

Government will sell its 5% stake in steel major Steel Authority of India (BSE Code: 500113) on Friday to mop up about Rs 1,700 crore while giving retail investors 5% discount to bid price. The SAIL offering would be the first public sector undertaking (PSU) share sale under the new government, which targets to raise Rs 43,425 crore through selling shares in various state-owned firms during current fiscal.

Future Lifestyle Fashions (BSE Code: 536507) has made further investments in Mineral Fashions Pvt Ltd. Following this, Future Lifestyle's total stake has increased from 22.70% to 37% of the paid-up capital of Mineral Fashions, which makes and sells clothing and fashion accessories under the Mineral brand.

Kesar Enterprises (BSE Code: 507180) commenced crushing operations for the sugar season 2014-15 at its factory in Baheri, Uttar Pradesh, from December 2. The operation began after the Uttar Pradesh government announced the State advised price via a press release dated November 12.