Index Trends And Stocks In Action March 11, 2015

Indian benchmark indices extended its losing streak further as heavy selling dragged index lower. The broader market ended on mixed note. Small cap index ended lower by 0.5 per cent and Midcap index remained unchanged. The Nifty index opened on flat note and there after slipped towards its important support as defined by 50-day EMA. The bulls saw some recovery from this support zone. Now going forward if index manages to sustains below level of 8660, expect correction up to levels of 8610. On upside 8750 would act as stiff resistance. 

Sajjan Jindal-led JSW Steel (BSE Code: 500228) is planning to shut those it has in Chile because of plummeting prices and rising global supply. The mines will remain closed until prices rise or costs come down, according to JSW Steel joint managing director Seshagiri Rao, as per media reports.

ICICI Bank (BSE Code: 532174) is reviving its stressed asset management cell after almost a decade in an effort to stem the tide of rising bad loans. The bank is worried over the spike in bad loans and recent slippages in the restructured book As per the media reports.