Index Trends And Stocks In Action April 16, 2015
Chirag Gothi / 16 Apr 2015
Indian benchmark indices spanned its winning streak on back of huge sell-off across the board, which dragged index below 8800 mark. Banking, IT, Telecom and Pharma stocks were top laggards.
Indian benchmark indices spanned its winning streak on back of huge sell-off across the board, which dragged index below 8800 mark. Banking, IT, Telecom and Pharma stocks were top laggards. Nifty on daily chart has formed a bearish engulfing candlestick pattern near its strong resistance band of 8840-8870. This signals bear’s are gaining momentum. Now going forward nifty has support around levels of 8710 and 8640. If nifty breach this support its likely to head toward 8400 mark in short term. On upside 8780 and 8840 is strong resistance for the bulls.
A share of Pitti Laminations is turn ex-split and Insecticides (I) ex-bonus. Insecticides (I) is rewarding its shareholders with 1:2 bonus. Pitti Laminations is sub-dividing the face value of its shares from Rs 10 to Rs 5. Those buying the shares on Thursday will not get these benefits.
Deepak Fertilisers sells additional 5.2% stake in Mangalore Chemicals via block deal. It sold 17.3% stake in last 2 days, now holds 11.2%.
Gammon India bags 2 orders worth Rs 840.65 crore. It has secured the following projects: (a) Environment & Pipeline sector project value: Rs. 516.73 crore (b) Transportation project value : Rs 323.92 crore.
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