Index trend and stocks in action August 17, 2017

In the last trading session after opening with a positive bias, Nifty slipped into minor an intraday decline during the early part of the session. However, in the afternoon, bulls bounced backed and ended the session near day’s high. The level of 9,920-9,930 is a hurdle to keep a watch on; if Nifty holds above this level it may extend its rally up to levels of 9,960-9,970. On the downside, the level of 9,850 and 9,820 are key support levels for Nifty. The Daily 14 period RSI is quoting around level of 50 and it marked a low of 43 and now if it sustains above level of 60 momentum is likely to strength further.

Infosys: The Board of Directors of the Company will consider a proposal for buyback of equity shares of the Company at its meeting to be held on August 19, 2017.

Ramco Cements: The company bought back 25,00,000 shares at a cost of Rs 167.70 Crores (excluding brokerage and other charges) and at an average price of Rs 670.80 per share. 

Shoppers Stop: The Company has closed “Shoppers Stop” store in at Shyamala Towers- Chennai, due to lower than expected businesses and its low profitability. 

Piramal Enterprises: Decision Resources Inc, wholly owned subsidiary of Piramal Enterprises in USA has acquired Context Matters Inc. 

Yes Bank: Yes Bank revised savings account interest rate slabs. 

Zensar Technologies: Zensar launches next generation Cloud management offerings with Cisco's CloudCenter capabilities.