Index trend and stocks in action

Indian benchmark index Nifty opened with a gap-down, surged for gap-filling from the very moment, but retreated yet again to close lower by 2.16 per cent at 10234.65. After hitting a swing low on October 8 at 10198, Nifty witnessed a breather of two days and tumbled yet again on October 11 as if to initiate downward rally. Nifty has given a negative crossover in the oversold zone. Hence, if it continues to slide downwards, we hold 10100-10000 as the immediate supports, followed by 9950. However, Nifty has managed to close above its crucial level of 10200, and hence, if we see a bounce-back from the current levels, we hold 10270-10350, followed by 10480, as the resistances.

HUL: The FMCG giant is expected to post double digit earnings growth in Q2 amid transition to organised players post GST, price increases during the quarter and lower input costs and rural demand.

OnMobile Global: The company’s European subsidiary OnMobile Europe BV has signed an agreement for complete acquisition of Appland AB.

Sundaram Clayton: The company has launched and inaugurated a foundry in Chennai and has invested Rs 150 crore for increasing its capacity.

Sambhaav Media: The company has started operations of its new FM radio channel in Godhra under the brand name Top FM (93.1).

PNC Infratech: The company has declared dates for its two contiguous EPC packages in UP which are worth Rs 1566 crore and Rs 954 crore for Lucknow- Ghazipur six-lane access-controlled Purvanchal Expressway project. The UP Expressway Industrial Development Authority has given a communication in this regard.