Index trend and stocks in action June 06, 2018
The NSE benchmark Nifty ended the day lower for the third straight day after a volatile trading session. The Nifty 50 ended at 10,593, down 0.33 per cent. The price action has formed a small body negative candle with long lower shadow, which indicates buying interest at lower levels. In the coming session, the level of 10,550 would be a key support level and a decisive breach of this support would lead to further correction up to the levels of 10,470 and 10,430. On the way up, the levels of 10,630 and 10,650 would act as immediate resistance areas. In the second half of the trading session, markets will get to know the outcome of the RBI’s monetary policy review meeting, which could dictate the trend of the market.
Capital First: The Reserve Bank of India (RBI) has conveyed its ‘No objection’ for the voluntary amalgamation of Capital First, Capital First Home Finance and Capital First Securities with IDFC Bank.
CG Power and Industrial Solutions: CG Power and Industrial Solutions bags a large order of Rs 3190 million from Indian Railways.
NMDC: The company’s iron ore output at 4.53 MT in 2 months of FY19.
Mcleod Russel: Mcleod Russel to sell certain tea estates of the company in Assam to MK Shah Exports for Rs 331 crore.
ADF Foods: ADF Foods to buyback 10 lakh equity shares (4.71 per cent equity) at Rs 300 each.
Grasim Industries: Grasim Industries informs about a lightning, flash strike by workers of Jaya Shree Textiles a Division of the Company at Rishra, Hooghly, West Bengal.
United Spirits: United Spirits receives shareholders’ approval for 5:1 stock split.