Index Trends And Stocks In Action June 26, 2015

After a day’s silence the key indices, Sensex and the Nifty resumed its upward march which led the Nifty index just shy of 8400 levels. Banking stocks provided the momentum to market in the second half and good participation from Capital goods and Pharma stocks provided bulls a booster. Technically, after forming a potential reversal candlestick pattern on Wednesday, the index was all set to move sideways as momentum on the buy side was diminishing. However, the index staged a smart rally from its important support level of 8330. Now going forward the index has major resistance around level of 8460-8500. On the downside 8365 and 8330 will act as immediate support for the index.

IL&FS Transportation Networks: IL&FS Transportation Networks announced that the company has emerged as the lowest bidder for a Bid with the National Highways Authority of India (NHAI) for 4-laning of Amravati-Chikhli (Package-I) section of NH-6 in the state of Maharashtra from KM 166,000 to KM 360,000 on Toll basis on DBFOT pattern under the NHDP Ohase-IV.

Bharti Airtel: Bharti Enterprises has acquired a minority stake in Oneweb, a global consortium comprising Qualcomm, Virgin Group, Airbus. Coca Cola, Intelsat and Grupo Salinas, among others, which aims to build satellites to deliver affordable broadband to all parts of the world.

GMR Infrastructure: The Civil Aviation Ministry today cleared a proposal for setting up a second airport in the National Capital Region of Delhi. GMR Group, which operates the Indra Gandhi International Airport here, would be preferred for developing the proposed airport.

ICICI Bank: Largest private sector lender ICICI Bank marginally reduced its base rate to 9.70 per cent from 9.75 per cent earlier, making lending rate at par with industry leaders SBI and that of HDFC Bank.