Index trend and stocks in action June 16, 2016
Chirag Gothi / 16 Jun 2016
After witnessing choppy movement in the last couple of trading sessions, Indian market started the session on a positive note and thereafter, it shifted into an intraday sideways consolidation till afternoon.
After witnessing choppy movement in the last couple of trading sessions, Indian market started the session on a positive note and thereafter, it shifted into an intraday sideways consolidation till afternoon. In the second half sentiments improved on the news that Cabinet has approved new civil aviation policy and merger of five associates with SBI would become effective. Post this development the market moved higher and ended above 8200 mark. Nifty has managed to hold on to its crucial support level which is placed around 8260 level and the downside gap which was created on June 13, 2016 has been filled completely and Nifty has managed to close comfortably above the gap which indicates bulls are in dominating phase. Now going forward the zone of 8240-8260 will act as a resistance zone. On the downside, the zone of 8130-8150 will act as a support zone. The daily RSI has rebounded from the level of 55 and is now quoting above 60 which is positive for the market.
IOC, HPCL & BPCL: State run oil & gas companies will be in focus after petrol prices were hiked by 5 paise a litre and diesel by Rs 1.26 per litre. This is the fourth increase in rates in the past six weeks.
Aegis Logistics: Foreign fund house Credit Suisse sold Aegis Logistics shares worth Rs 40 crore. According to bulk deal data, it sold 16.75 lakh shares each on the BSE and NSE at an average price of Rs 119.
NTPC: NTPC formally announced incorporation of a joint venture with Coal India, Hindustan Urvarak and Rasayn to revive Gorakhpur and Sindri plants of Fertilizer Corporation of India.
Monsanto: In a fresh mysery for Monsanto, the Competition Commission of India (CCI) has ordered a detailed probe into three more complaints against the US-based genetically-modified seed major by clubbing them with the ongoing investigation.
Sequent Scientific: The Maharashtra Food and Drug Administration has ordered suspension of the manufacturing licence of the Mahad unit of Sequent Scientific, a maker of drug raw material and veterinary products.
Ujjivan Financial Services: The Reserve Bank of India has put Ujjivan Financial Services on its ban list for foreign investment, which means overseas investors will not be able to buy further equity in the company.
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.