Index trend and stocks in action June 16, 2017
Chirag Gothi / 16 Jun 2017
Going forward, the level of 9,550 is a key support for the index and if it holds below level of 9,550 it may slide further lower toward the level of 9,520. Whereas, on the upside, resistance is seen at levels of 9,640-9,650.
On Thursday, Nifty started the session flat with a negative bias and it slipped into intraday decline as the day progressed. Selling pressure intensified in the finishing hours of trade and Nifty ended the session below the 9,600 mark. Nifty took support near its 21-day EMA level. Going forward, the level of 9,550 is a key support for the index and if it holds below level of 9,550 it may slide further lower toward the level of 9,520. Whereas, on the upside, resistance is seen at levels of 9,640-9,650.
Deepak Fertilisers: The Company has now received an intimation that the Department of Fertilisers (DOF) would release the balance withheld amount of Rs. 310.52 crores on providing a Bank Guarantee of an equivalent amount.
Reliance Industries: Reliance and BP agreed to invest up to Rs 40,000 crore in the KG-D6 basin. Development of 3 trillion cubic feet of resources will result in the production of an additional 30-35 million cubic meters per day of gas between 2020-2022.
Century Plyboards: The Company's Subsidiary Century Ply (Singapore) Pte. Ltd. in Singapore has acquired 49% stake in M/s. Huesoulin Wood Processing Factory Co. Ltd., thereby making it an associate company. M/s. Huesoulin Wood Processing Factory Co. Ltd. is engaged in manufacturing and trading in plywood, veneer & all wood products and providing related services.
Infosys: Appoints Karmesh Vaswani as global head of retail, CPG and logistics. Appoints Nitesh Banga as global head of manufacturing. Appoints Inderpreet Sawhney as group general counsel.
HPCL, BPCL, IOC: Petrol prices cut by Rs 1.12 per litre while diesel prices were cut by Rs 1.24 per litre in the last fortnightly revision of prices.
IPCA Laboratories: Drugs manufactured at units situated at SEZ Indore (Pithampur) and Piparia (Silvassa) will be refused admission in the U.S.
NMDC: Monthly production of iron ore in May at 5.63 million tonne and Monthly sales of iron ore in May at 6.59 million tonne.
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