Index trend and stocks in action April 26, 2019

After a blockbuster performance by the bulls on Wednesday, the positive momentum continued in the first half of the session on Thursday with Nifty registering high of 11,797. However, the bears struck back with a vengeance during the final hour of April series expiry on Thursday and Nifty lost over 150 points from the high of the day and ended near the day’s low with loss of 0.72 per cent. The price action formed a sizeable bear candle with an upper shadow. Going ahead, the zone of 11,540-11,550 is a crucial level to watch out as 11,549 is the current month's low level and the 23.6 per cent retracement for the upmove leg from the low of 10,585-11,856 is placed at 11,556. In case Nifty falls below 11,550-11,540 zone, it may witness some more weakness towards 11,440 and 11,380 levels. While on upside, stiff resistance is placed in the region of 11,760-11,800.

HCL Technologies: HCL Tech has expanded its US operations with new CyberSecurity Center.

Bank of Baroda: The board has approved issuance of fresh equity shares of Rs 5,042 crore to Government of India on a preferential basis, subject to necessary approvals.

Tata Steel: The board of directors considered and approved merger of Bamnipal Steel and Tata Steel BSL into the company by way of amalgamation.

Kotak Mahindra Bank: Kotak Mahindra Investments Limited, a wholly-owned subsidiary of the bank, has executed a share purchase agreement for sale of its entire equity stake of 19.77 per cent in Matrix Business Services India Private Limited.

Apcotex Industries: The board considered and approved sub-division of equity share of face value of Rs 5 to Rs 2 per share.