DSIJ Mindshare

Investors remained cautious ahead of the state election exit poll results to be announced immediately after voting in Rajasthan and Telangana on Friday evening. Nifty Pvt Bank was the top gainer on Friday among all sectoral indices ahead of exit polls, closing at 15062.25 with a gain of 2.11 per cent. After opening with an upside gap, the index managed to make series of higher highs throughout the day.

The stocks most likely to witness significant movement on the bourses on December 10 are Indo Rama Synthetics (India), Kotak Mahindra Bank, Jet Airways, Escorts and Gujarat Alkalies and Chemicals. 

On the daily scale, the stock has recently given breakout of downward sloping trendline formed by connecting highs from January 2018. After taking support near its crucial short term moving average, i.e. 21-day EMA, the stock bounced sharply. The stock as on December 4, 2018 formed a sizeable bullish candle along with decent volumes, which is positive for the stock. 

The power transmission & distribution business segment of Larsen and Toubro (L&T) has won orders worth Rs 2,547 crore. The shares of the company gained over 1 per cent intra-day. 

The board of directors of Gujarat Alkalies and Chemicals Limited (GACL) has given approval to two major capex plans that include establishment of new capacity of hydrazine hydrate and capacity expansion of its existing caustic soda plant.