On Thursday, Nifty opened the session on a flattish note with a positive bias, and later on it shifted into a sideways mode for the better part of the trading session. Some volatility was witnessed in the last half an hour of trading. Most Asian shares declined as geopolitical concerns continued to loom over the markets.
US President Donald Trump threatened to terminate the US trade agreement with South Korea, declaring that the five-year-old accord with a key ally was a horrible deal that has left America destroyed. Trump also warned that conflict with North Korea was possible, even though he said he preferred peaceful resolution more.
Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 181.71 crore yesterday, 27 April 2017, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 233.31 crore yesterday, 27 April 2017, as per provisional data.Now going forward Nifty is looking weak at the moment and it needs to sustain above 9370 mark to extend a further rally. Support zone for nifty is around 9270-9250.
Stocks to look out for today:
IGL: Proposes to increase FII limit to 30 per cent, subject to shareholder approval.
DCB Bank: Private lender DCB Bank has raised about Rs 378.80 crore through QIP. The bank issued 21,770,000 equity shares at Rs 174 each.
Ashok Leyland: Receives approval from National Company Law Tribunal for amalgamation of Hinduja Foundries with itself.
Jubilant LifeSciences: Company does not have any specific plan for Singapore listing of pharma business.
India Glycols: Begins commercial operations of its freight terminal at Kashipur in Uttarakhand.
Sun TV: Launches new ‘Surya Comedy Channel’, which is the first of its kind 24 hours Malayalam comedy channel, added to its bouquet of Malayalam channels, namely Surya TV, Surya Movies, Surya Music and Kochu TV. The new channel will be on air from April 29, 2017.
Prism Cement: This is to inform you that the Company has received Letter of Intent from Madhya Pradesh Government for allotment of cement grade limestone mining lease for 50 years in Villages, Chulhi and Majhiyar, District Satna, Madhya Pradesh, with about 23.6 million tons of reserves, subject to completion of formalities. The application for this Mining Lease was made under the earlier regulations, and was under processing by the State Government. The Mining Lease would be captive to the cement plants of the Company at Satna, Madhya Pradesh.
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