Index Trend And Stocks In Action November 16, 2015
Chirag Gothi / 16 Nov 2015
After showing some signs of recovery on the Mahurat Trading day, the Indian Stock Market continued their southbound journey on the back of weak global cues and disappointing macroeconomic data.
After showing some signs of recovery on the Mahurat Trading day, the Indian Stock Market continued their southbound journey on the back of weak global cues and disappointing macroeconomic data. On the daily chart the index has formed a potentially Dragonfly doji candlestick pattern, which indicates bears are losing momentum. Now going forward the zone of 7710-7730 is a crucial support for the index. As long as this support zone holds on declines, we may consider that a short term low has been formed for now. In any case, if this support zone is breached, expect a strong sell-off up to levels of 7660-7580. On the upside level of 7810 would act as a hurdle.
HPCL and BPCL: State fuel retailers have raised the price of petrol by 36 paise a litre and diesel by 87 paise a litre following their fortnightly review to align local prices with international ones and adjust for foreign exchange rates.
JSPL: Jindal Steel and Power, which suffered a severe loss in the second quarter due to decline in the iron and steel prices, has decided to embark on a cost-cutting exercise. As a part of cost cutting company plans to restructure its work force and also hive off some of its non-core business to raise the much needed cash.
Tata Steel: Tata Steel has received green clearance for mining of mineral sand, used in coal production from the riverbed of Gowai in Purulia District, West Bengal with a proposed production capacity of 0.2 million tonnes per annum.
Maruti Suzuki: Maruti Suzuki will finally go ahead with its much delayed minority shareholders voting to let parent Suzuki invest and own the upcoming plant in Gujarat. The voting through postal ballot would take place from 16th November to 15th December, 2015 while the results will be announced on 17th December, 2015.
S H Kelkar: Shares of fragrance maker S H Kelkar will get listed on the stocks exchanges, NSE and BSE today. The company’s Rs 500 crore initial public issue (IPO) which closed last month received an overwhelming response from investors and was over-subscribed 27.08 times.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.