Index trend and stocks in action January 28, 2019

The NSE benchmark made a buoyant start but failed to capitalize on it as bulls surrendered to the bears as the day progressed and in the second half of the session bears tightened the grip further which led to a steep fall. The Nifty ended the day down by 0.64 per cent at 10,781. The price action formed a long bear candle with long upper shadow, a pattern that indicates emergence of selling pressure from the highs. On the way down, Nifty has breach its important moving averages, i.e. 100-day and 200-day moving averages. However, the index has held on to its 50-day moving average, which is placed around the 10,780 level. Going ahead, a breach of 50-day moving average would result in further sell-off towards the level of 10,700, while on the upside, 10,837 is likely to act as a stiff resistance as the 200-day moving average is placed around this level.   

Zee Entertainment Enterprises: Subhash Chandra, in a statement said, "I am pleased to share that we have achieved an understanding with lenders. We have always valued their immense trust and faith shown in us and the positive and progressive outcome of the meeting, is a true example of the same. I am very positive that we will continue to take such positive steps in rising up from the current challenging times with support of all stakeholders. 
  
Lupin: Pharma major Lupin has announced the completion of the US FDA inspection of its Pithampur Unit -2 (Indore) facility. The inspection at Pithampur Unit-2 (Indore) closed with six observations. 
  
Jubilant Life Sciences: The company has issued commercial papers (CPs) of Rs 100 crore . 
  
ENIL: The company has entered into a brand and content licensing arrangement with a US-based radio broadcaster to use the company's trademarks and content. The broadcaster's programmes will primarily target the South Asian community in the US. 
  
Soril Infra Resources: The company has acquired 100 per cent stake in Littleman Fiscal Services Private Limited, a non-banking finance company registered with RBI, to foray into financial services business with the primary focus on financing in rural markets. Through this 100 per cent owned NBFC, the company would undertake such lending business to tap into lending opportunities in un-served rural India. 
  
Mcnally Bharat Engineering Company: The company has received order from ESR Warehousing Private Limited relating to work of filling, civil and infrastructure works in Howrah worth Rs 72.6 crore. 
  
NBCC: The company has bagged order of Rs 228 crore to redevelop World Health Organisation-SEARO building in New Delhi.