Index trend and stocks in action January 24, 2019

The NSE benchmark Nifty made slightly higher opening and, thereafter, it turned lacklustre. In the final hour of trading, sharp sell-off was seen, which dragged the index below the 10,850 mark, down by 0.84 per cent. The price action formed a sizeable bearish candle. Going ahead, all eyes would on the key support zone, which is placed around 10,800. As long as the index trades above this level, there would be no structural damage. But a decisive breach of the 10,800 mark would open up for further correction towards the level of 10,770. On the other side, the level of 10,865 is likely to act as an immediate resistance, followed by 10,900. 

MEP Infrastructure Developers: NHAI has given January 21 as appointed date for the project of construction of eight laning of existing four lane Vadape to Thane in Maharashtra to subsidiary MEP Longjian VTR Private Limited. 
  
IDBI Bank: After a significant capital infusion by LIC in IDBI Bank, Moody’s has upgraded ratings in the various instruments of the bank. 
  
Infosys: Infosys has partnered with HPE to accelerate enterprise digital transformation. 
  
Bharat Financial Inclusion: Bharat Financial Inclusion assigned a pool of receivables of an aggregate value of Rs. 832.3 crore to one of the largest public sector banks on a direct assignment basis as per the guidelines prescribed by the Reserve Bank of India. This is the sixth direct assignment transaction in FY19. With this transaction; the company has completed direct assignment transactions worth Rs. 4,697.21 crore in FY19. 
  
Vodafone Idea: Vodafone Idea proposes to raise Rs 25,000 crore by way of rights issue. The recently merged entity will raise nearly Rs 18.250 crore from the two promoters, viz. Vodadfone Group and Aditya Birla Group.