Index trend and stocks in action December 18, 2018

The NSE benchmark Nifty opened the session with a decent gap-up, shrugging off mixed cues from the Asian peers. This was followed by some consolidation, but in the penultimate hour, the bulls extended the rally and closed shy of the 10,900 mark, up by 0.77 per cent. The price action formed a bullish candle with a gap-up opening. The momentum is likely to continue on the upside, and on the way up, the index may attempt to test the 100-day moving average placed at the level of 10,938, while on the downside, the gap area (10,815-10,845) which was formed on December 17 is likely to provide support to the index. Sustaining above the 100-day moving average may help the index to reclaim the levels of 11,000-11,050.  

Tata Steel: Andreas Goss, currently Chief Executive Officer (CEO) of Thyssenkrupp's steel division, will be the future Chief Executive Officer of the planned joint venture and chair the management board of Thyssenkrupp Tata Steel B.V. 
  
Graphite India: Karnataka State Pollution Control Board has renewed the consent for operations at Bengaluru graphite electrode plant for a period up to June 30, 2020, only with condition to shift the unit from the existing location.  The condition will not have any adverse impact on the production capacity of the graphite electrode division as a whole in the medium and long term. 
  
Ashoka Buildcon: Ashoka Buildcon has announced an investment commitment of Rs 150 crore into its city gas distribution (CGD) business Unison Enviro Private Limited (UEPL) by Morgan Stanley India Infrastructure. UEPL builds and operates CGD networks across cities and towns in India. 
  
NMDC: The company has revised prices of lump ore at Rs 3,250 per tonne and fines ore at Rs 2,860 per tonne with effect from December 13. 
  
Bombay Dyeing: The company has given its consent by signing the shareholder's resolution of its subsidiary in Indonesia, i.e. PT Five Star Textile Indonesia (PTFS) for closure of the same. 
  
Bank of Baroda: The capital raising committee of the bank has approved issuance of Tier-II capital bonds compliant with Basel III capital regulations of the Reserve Bank of India for issue size not exceeding up to Rs 525 crore, with a base issue size up to Rs 200 crore and a green shoe option to retain oversubscription up to Rs 325 crore. 
  
Glenmark Pharmaceuticals: The company has announced new data on GBR 1302, a HER2xCD3 bi-specific antibody, presented at the ESMO Immuno-Oncology Congress 2018.