Index trend and stocks in action April 05, 2018

The benchmark Nifty opened the session modestly higher and later shifted into a consolidation mode till afternoon. But, in the afternoon, a sharp sell-off was seen on the back of fresh trade war tension between the US and China and Nifty concluded the session with a heavy loss of 117 points. The price action formed a sizeable bear candle, which is indicating formation of bearish engulfing pattern. Going ahead, the low of last Wednesday’s session, which is placed at 10096, would be seen as a crucial support. With the Nifty ending the session below its 200-day SMA, in the coming session, the 200-day SMA, which stands at 10,185, is likely to act as a hurdle. The next major hurdle is placed in the region of 10,250-10,280. Traders should trade cautiously ahead of the monetary policy as any hawkish stance by the RBI could spook markets badly.

Max Financial Services: The Board meeting on April 9, 2018, to consider and evaluate proposals for raising of funds by way of debt instruments, for the purpose of making investments in its subsidiary Max Life Insurance Company Limited ('Max Life') to enable it finance acquisition opportunities. 

Adani Enterprises: The company has won an award from National Highways Authority of India (NHAI) for an infrastructure project in Chhattisgarh.

Natco Pharma: NATCO launches 1st generic version of Oral tablets for Multiple Sclerosis in INDIA. 

BHEL: BHEL commissions 330 MW Kishanganga HEP in Jammu & Kashmir. 

Smartlink Network Systems: A meeting of the Board of Directors of the Company will be held on April 07, 2018 to consider the proposal to buy-back. 

BEPL: BEPL completed expansion of ABS capacity from 80 KTPA to 100 KTPA at its Abu Road unit. 

Kansai Nerolac Paints: The Company has entered into Share Purchase Agreements (SPAs) to acquire 100% equity stake in Marpol Private Limited (Marpol) for an aggregate consideration of Rs. 36 crores.