Index Trends And Stocks In Action September 22, 2015

The Indian Benchmark Indices started the session on dismal note as global cues were not encouraging, however, as the day progressed indices recovered smartly from lower level led by banking, auto and realty stocks. The broader market outperformed the benchmark indices. Technically, the index opened with a gap down and saw a healthy recovery. Monday’s trading session recovery has not only managed to fill down gap which was created on Monday, it has also managed to fill the opening gap which was created post Fed policy meeting. Now going forward stiff resistance for the index is placed at 8055-8100. Only if bulls manage to cross this level, there could be further momentum see on the upside. On the downside the zone of 7900-7920 is a crucial support for the index, if breached this support zone it will trigger fresh sell-off, which is likely to take index up to levels of 7830.

Amtek Auto: The debt laden Amtek Auto has missed payments on the Rs 800 crore worth of bonds that matured on Monday, potentially exposing the Indian banking system to a near Rs 8,000 crore of loans which may have to be classified as bad loans if the company does not quickly make payments.

Infosys: India has awarded a contract worth Rs.1,380 crore to IT bellwether  Infosys Ltd to build and maintain the technology network crucial for implementing the proposed goods and services tax (GST) system across the country for five years.

BhartiAirtel Ltd: Telecom major BhartiAirtelhas relocated all its pre-paid subscribers through the country to pay-per-second, ensuring customers pay only for the time they use the network.