Index trend and stocks in action June 11, 2019
The start of the day was a fantastic one for the Nifty as it registered an intra-day high of 11,951. Then volatility kicked in as the day progressed and, at one point, Nifty lost over 100 points from the high point of the day. However, a late recovery helped recoup some of the losses and the index settled above the 11,900 mark with a gain of 0.44 per cent. The price action of the day formed a high-wave like candlestick pattern. Going ahead, the index needs to sustain above the zone of 11,980-12,000 for the bullish momentum to continue. On the downside, the last week’s low of 11,770 is likely to act as a crucial support for the index. In the coming session, we expect the index to consolidate in the broad range of 11,770-12,000 and a decisive breach on either side may result in a trending move. As long as the index stays in this broad range, we advise traders to have a stock-specific approach.
ICICI Lombard General Insurance: ICICI Lombard has leveraged technology with a human touch to deepen consumer connect.
Reliance Industries: Reliance Industries is planning to shut down one of the crude distillation units and coker unit of its DTA refinery at Jamnagar for routine maintenance and inspection activities for about 3 to 4 weeks starting from June 20, 2019.
DHFL: The sale/transfer of the entire stake held by DHFL in Aadhar Housing Finance Limited to BCP Topco VII Pte. Ltd has been completed.
Petronet LNG: The facilities related to expansion of Dahej LNG Terminal from 15 to 17.5 MMTPA i.e. addition of 2.5 MMTPA LNG regassification facilities has been commissioned and under stabilisation. As such, the additional gas send-out from Dahej LNG Terminal has commenced. The performance guarantee test will be performed once the system is stabilised.
Bharti Airtel: The company has upgraded 4G network in Delhi NCR and deployed L TE 900 technology to boost indoor coverage.
Zensar Technologies: Zensar has announced global partnership with NetApp and Cisco to deliver FlexPod managed private cloud services launching at Cisco Live San Diego 2019.
Wipro: Wipro has rolled out Total Operations System (TOPS) CREW for global airlines.
Muthoot Capital: Muthoot Capital Services Limited completed an assignment transaction on Rs 84.95 crore on June 7, 2019. With this transaction, the company has so far raised total funds of Rs 196.88 crore through securitisation/direct assignment transactions during the FY2019-20.