The saying, "no news is bad news," has proved to be true for the Indian markets, as bears tighten their grip on D-Street on the previous trading session. Market participants were eagerly waiting for some exciting news from domestic and foreign shores.

In Tuesday’s trading session, the Indian equity benchmarks traded under pressure and settled for the day with losses of more than half a per cent, owning to profit booking by investors.

Considering the weekly time frame, the stock is trading in symmetrical triangle pattern. As of now, the price action has narrowed, substantially, and the price has reached near the apex point of the triangle, which indicates that the stock is likely to give a breakout in the coming weeks.

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According to a report by Investment Information & Credit Rating Agency (ICRA), the long term rating for NELCAST was re-affirmed and outlook revised to Negative. On the other hand, the Short-term rating was downgraded to [ICRAJ]A1.

The market opened in the green on 10th December, overall volumes in futures & options currently stand at 1.41 crore contracts with a turnover of Rs. 9,91,452.25 crore.

Panacea Biotech Limited has announced launch of brand ViLACT in India. ViLACT is used in the treatment of Uncontrolled Type 2 Diabetes Mellitus patients with HbA1c >6.5 per cent.

The market opened in the green on 10th December, overall volumes in futures & options currently stand at 1.41 crore contracts with a turnover of Rs. 9,91,452.25 crore.