Following stocks are close to their 52-week low as at 1.02 p.m. on April 16, 2018.

The markets on April 16, 2018 opened gap down. BSE Sensex is trading at 34,120.60, down by 72.05 points and the Nifty is trading at 10,468.70, up down 11.90 points.

Debt-laden textile company Alok Industries is on the way to liquidation has the company’s lender rejected the rescue offer put forth by Reliance and JM Financial ARC.

Bank’s net profit for the quarter increased by 21 per cent from the corresponding quarter of last year to Rs. 64.2 crore. 

Steel Strips Wheels Limited (SSWL) has secured another big export order for supply of Steel wheels to the EU Caravan market.

Although the benchmark indices are trading in red following a gap-down opening, Nifty Pharma index has been continuously surging and has gained more than 1 per cent and broke out of its consolidation and also breached its major resistance at 8,841 levels with justifiable volumes.

Overall volumes in futures & options currently stand at 66.02 lakh contracts with a turnover of Rs. 5,78,452.57 crore.

Overall volumes in futures & options currently stand at 66.02 lakh contracts with a turnover of Rs. 5,78,452.57 crore.

Going ahead, the level of 10,450 is an important support for the index, followed by 10,350. Stocks in the news: United Spirits, Reliance Industries, Bliss GVS Pharma, IL&FS Engineering and Dilip Buildcon.

Indian markets are expected open with a gap-down as a reaction to the US-led strikes on Syria carried out on late Friday evening. The strikes were a response to the alleged chemical attacks carried out by the Assad regime in Syria. The SGX Nifty is pointing that Nifty may open lower by 56 points at 10,447.