FRIDAY

23-AUG-2019

Bears momentum is more below 10720

FLAT to NEGATIVE MARKET

 

Today’s Market Prediction:  Indian Stock Market would open FLAT

Technically,Nifty has entered into positive zone but BankNifty is still in negative zone

The index forming a bearish candle on the daily charts.

India VIX up by 4.88 percent at 17.85 levels

Rupee crashes to over 8-mth low of 71.81 against USD

Oil prices eke out small gains ahead of Fed Chair speech

Domestic air passenger traffic grows by 3.01% in July

NMDC: Company's officials will meet Emkay Global Financial Services on August 23.

Vakrangee: Annual General Meeting to be held on September 25.

Astron Paper & Board Mill: Annual General Meeting is scheduled to be held on September 25.

Stocks in the NEWS:

TCS: Company launched an enhanced version of its unique diagnostic solution, the TCS intelligent Cloud Migration Continuum (iCMC).

Shreeji Translogistics: Board to consider interim dividend & bonus issue, and migration of the company from SME Platform to the Main Board of BSE on August 27

Dabur India: Subsidiary Dabur International acquired management control of a new company Excel Investments (FZE) in Sharjah, UAE which had acquired 99.99 percent shareholding of Dabur Pakistan (Private) Limited and Asian Consumer care Pakistan (Private) Limited from Dabur International..

Gillette India: Company declared a final dividend of Rs 25 per share (nominal value of Rs 10 each) for the financial year ended June 2019.

Infosys: Company and the University of Illinois Urbana-Champaign entered a strategic partnership for precision medicine.

Shivam Autotech: CARE downgraded its credit rating on the company's long term bank facilities to BBB with negative outlook from BBB+ with a stable outlook.

Kennametal India Q1: Consolidated profit falls to Rs 21.5 crore versus Rs 90.4 crore, revenue drops sharply to Rs 250.1 crore versus Rs 945.2 crore YoY. Board appointed Bidadi Anjani Kumar, Independent Director of the company, as the Chairman.

Supreme Infrastructure India: Company postpones the announcement of March quarter earnings.

AXISCADES Engineering Technologies: Company has received a resignation letter from Anees Ahmed, Executive Director, stepping down from the office of directorship, owing to his full-time preoccupation with Mistral Solutions, a subsidiary company.

Kamdhenu: Company has started partial manufacturing operations at the paints factory (stainer division) at Rajasthan where the manufacturing operations were disrupted due to a fire incident in April.

BHEL: CRISIL revised its outlook on the company's long-term bank facilities to negative from stable while reaffirmed the rating at 'AA+'. The rating on the short-term bank facilities have been reaffirmed at 'A1+'

Shree Renuka Sugars: India Ratings and Research placed the company's Long-Term Issuer Rating of 'BBB+' on Rating Watch Negative (RWN).

Market lndication:

Global:  FLAT  to NEGATIVE

NIFTY: FLAT  to NEGATIVE

BANKNIFTY: FLAT  to NEGATIVE

BULK Deals: Aarti Drugs Ltd, Alkem Laboratories Ltd

Stocks In F&O Ban Period: DHFL,IDBI Bank  

Results Today: Technofab Engineering, Vadilal Industries, Vadilal Enterprises, Bharat Bhushan Share, Golechha Global Finance

SGX NIFTY:  (Negative)

10711     -7.50    -0.07%

 

FII-DII: FIIs were net sellers of Rs.902 crores whereas DIIs were net buyers of Rs.1719 crores in cash market for last trading session.

NIFTY (10741): The support for the Nifty is: 10670-10599-10530 and the resistance to the up move is at: 10860-10979-11050 levels.

BANKNIFTY (27034): The support for BankNifty is: 26776-26518-26260 and the resistance to the up move is at  27491-27947-28170 levels