Index Trends And Stocks In Action June 16, 2015

The Indian equity markets ended upbeat for second consecutive session courtesy positive macro-economic data, which lifted the Index above an important level of 8000. Technically, Nifty opened today on a flattish note and started to scale higher as the day progressed. The Intraday trend remained in favor of the bulls; however, at the end the index lost some of the gains. Now going forward 7920-7900 is an important support for the index as long as index manages to hold on to this support, bulls will continue to see a pullback rally. On the upside 8060 is a big hurdle for the bulls and next major resistance is around levels of 8180.

IOC, BPCL, and HPCL: Fuel Retailers increased petrol prices by Rs 0.64 a liter and cut diesel by 1.35 a liter after aligning them with international prices and adjusting for foreign exchange rate.

Biocon: Syngene International, research arm of biotechnology major Biocon, has received capital markets regulator Sebi’s approval to launch an initial public offer (IPO).

Kotak Mahindra Bank: The Foreign Investment Promotion Board (FIPB) has deferred for the second time Kotak Mahindra Bank’s proposal for raising foreign investment limit in the bank to 55% from the existing more than 48%.