Index trend and stocks in action January 31, 2019

The NSE benchmark Nifty opened the session with a gap-up and the index remained highly volatile throughout the day and ended the day almost unchanged at 10,652. The price action formed a bear candle carrying lower shadow. Going ahead, it would be important for the index to defend the 10,580 level as any breach of this level will result in some instability for the very near term. On the other hand, Nifty is likely to face resistance in the zone of 10,756-10,778 as the key moving averages are placed in this region. Volatility is likely to remain elevated in the session on account of the January series derivative expiry.   

Bharti Airtel: Airtel Africa Ltd, a subsidiary of Bharti Airtel Ltd, announced that Qatar Investment Authority, the sovereign wealth fund of the state of Qatar has agreed to invest USD 200 million through a primary equity issuance in the company. The proceeds will be used to further reduce Airtel Africa's existing net debt. 
  
63 Moons Technologies: The Supreme Court has dismissed the special leave petitions of NSEL Investor Action Group (NIAG) and Government of Maharashtra, declining to interfere with the Bombay HC order of releasing assets of 63 Moons (formerly known as FTIL) attached under the Maharashtra Protection of Interest of Depositors (MPID) Act. 
  
Talwalkars Better Value Fitness: The company has made investment in an Indian company Rushzone Wellness Private Limited. 
  
Cadila Healthcare: Zydus Wellness Limited and Zydus Wellness—Sikkim (a partnership firm),wholly owned by Zydus Wellness Limited, have acquired 100 per cent of the equity share capital of the Heinz India Private Limited. 
  
Ajanta Pharma: The c ompany has approved buyback of up to 7.69 lakh shares at a price up to Rs 1,300 per share. The company has approved February 12 as the record date for determining the entitlement of the eligible shareholders for the proposed buyback of the equity shares of the company