Index Trend and stocks in action
Bhagyashree Vivarekar / 30 Jun 2016
The Indian benchmark indices started off the session with an upside gap as investors were largely influenced by the supportive leads from the global markets. Thereafter, markets started gathering steam and surged above 8200 mark.
The Indian benchmark indices started off the session with an upside gap as investors were largely influenced by the supportive leads from the global markets. Thereafter, markets started gathering steam and surged above 8200 mark. Nifty had created a sharp downside gap as on June 24, 2016 owing to BREXIT around levels of 8188.30-8100.70, and that gap has been filled completely on Wednesday. After registering low of 7927 which was 61.8 per cent retracement level, Nifty is maintaining sequence of higher top higher bottom pattern. Now going forward Nifty has resistance in the zone of 8240-8260, and once this zone is cleared next level to watch out for is 8300. On the downside, immediate support is placed around 8150 and next important support is placed around 8100 levels. Thursday being June series settlement expect some volatility to kick in the second half. This series has witnessed several setbacks like REXIT and BREXIT, but the market has bounced back, and this suggests that correction has been used to initiate a long position.
Minda Industries: The company has announced that the board of directors of the Company at its meeting held on June 28 ,2016 has considered and approved sub-division (Stock Split) of equity shares of the company. One equity share of the company, having a face value of Rs 10 each will be divided into five equity shares of face value of Rs 2 each.
L&T: L&T Infotech's IPO, a subsidiary of Larsen & Toubro is likely to open on July 11, 2016 and the price band has been fixed between Rs 705-710 per share. Retail investors will be offered a discount of 10 per cent on the IPO price. The company aims to raise nearly Rs 1200 crore through public issue.
Coal India: Coal India and Solar Energy Corporation of India Limited have signed two agreements for implementation of 200MW Solar Power Project in the State of Madhya Pradesh (M.P.).
Gati: Gati said that its subsidiary Gati Kausar is launching a temperature controlled warehousing facility in Delhi. The 5,000 pallet capacity unit is spread over four acres.
MCX: US based CME group is keen on picking a 15 per cent stake in MCX.
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