Index trend and stocks in action May 13, 2016

Indian market witnessed a gap up opening and maintained its upward momentum for the early part of thr trading session. However, sentiments turned pessimistic in the late morning trades and indices started to move towards the lower end. In the end Nifty settled around 7900 mark. Nifty in the past few trading sessions has been facing resistance in the zone of 7900-7920. However, Nifty has managed to close at the highest point of the last 10 trading sessions. Now going forward a decisive move above level of 7930 is likely to test levels of 7990-8000. On the downside, immediate support is placed around levels of 7820-7840 levels. The daily RSI is hovering around the 60 mark.

Crompton Greaves: Crompton Greaves' de-merged entity Crompton Greaves Consumer Electrical, which deals in consumer products business, is going to make its debut today.

Nestle India: The company has reported a 19 per cent decline in net profit for the quarter ended 31st March, 2016 as it continued to be weighed down by the ban on its top instant noodles Maggi.

Glenmark Pharmaceuticals: The Pharma major reported over 13-fold jump in consolidated net profit to Rs 143.04 crore for the March quarter owing to robust sales across all markets including the US, Europe and India.

Bharti Airtel: Telecom major Bharti Airtel has said that it would implement a benchmark 1.5 per cent for call drop, voluntarily, against the 2 per cent allowed under the Telecom Regulatory Authority of India’s (TRAI) prescribed regulations for quality services.

Dr Reddy's Laboratories: India’s second largest drug maker Dr Reddy’s Laboratories is bracing  for another challenging year in its biggest market, the US, where its business  has been offended by regulatory scrutiny and fewer new drug approvals.

MSCI Rebalancing: MSCI Indian Index added Bajaj Finance, Havells India, Titan and Yes Bank to the list; while deleted Reliance Communications, REC and United Breweries.