Index trend and stocks in action November 03, 2016
Chirag Gothi / 03 Nov 2016
Now going forward, if Nifty manages to hold this support zone it will make an attempt to fill the opening downside gap, which has been created as on November 2, 2016. However, if it fails to hold on to the support level of 8480-8500, it is likely to open gates for correction up to levels of 8430-8400.
The Indian benchmark indices got off to a gap down opening, in tandem with the negative sentiments prevailing in the Asian markets. Thereafter, it shifted into intraday sideways range and in the end Nifty ended the session at 8514 levels with a loss of 1.30 per cent. At present, Nifty is hovering around the crucial support area i.e. 8480-8500. Now going forward, if Nifty manages to hold this support zone it will make an attempt to fill the opening downside gap, which has been created as on November 2, 2016. However, if it fails to hold on to the support level of 8480-8500, it is likely to open gates for correction up to levels of 8430-8400. On the upside, the zone of 8570-8580 will act as a stiff resistance for the Nifty.
Nilkamal: The company informed bourses that it has fixed November 12, 2016 as the record date for the purpose of payment of interim dividend.
Welspun India: Welspun India informed stock exchanges that Indian Ratings & Research, a Fitch Group Company has reaffirmed Welspun India Limited’s credit rating of ‘IND AA-/Stable’.
Aurobindo Pharma: Aurobindo Pharma has expressed preliminary interest in acquiring Portuguese drug maker Generis Farmaceutica for about $200 million.
Tech Mahindra: Tech Mahindra signs 5-year cooperation pact with Stockmann on ICT.
Great Eastern Shipping: Great Eastern Shipping Company has plans to raise up to Rs 400 crore through issuance of non-convertible debentures by way of private placement.
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