Index trend and stocks in action December 06, 2016

Indian benchmark indices started off the session on a subdued note as cues from the Asian markets were not encouraging, and later shifted into gradual declines for the better part of the session. Buying interest emerged in the second half of the trading session and made the session end on a positive note. Nifty index took support around levels of 8050-8060 and managed to close above important levels of 8100. The downside gap which was formed as on December 2, 2016 remains unfilled (8185-8159). Now going forward this gap may act as a resistance for the Nifty. On the downside, the level of 8080 may offer support to the Nifty. A breach of this support may open up gates for correction up to levels of 8030-8040.

Tata Power: Tata Power's Strategic Engineering Division (SED) has won a Rs 200 crore order from the Defence Ministry for supplying one regiment of command post and launcher of Pinaka multi rocket launch system. The order won by Tata Power SED includes supply of 20 launchers and 8 command posts.

Rajesh Exports: The company said it has bagged an export order worth Rs 786 crore of designer range of gold and diamond studded jewellery and medallions from UAE.

Goa Carbon: The company informed that the operations at its Bilaspur plant have been temporarily shut down from December 03, 2016. However, there would not be any financial impact due to the temporary shutdown of the company’s Bilsapur unit as there is sufficient inventory to service the orders in hand.

Lupin: Drug firm Lupin received final approval from the US health regulator for its Hydrocodone Bitartrate and Acetaminophen tablets used for providing pain relief.