Market will open on a flat note as SGX NIFTY is trading down by 8 points.
The index which opened at 10,175.60 rose to a record high of 10,178.95 but bears took control of market, which pushed the index towards its intraday low of 10,129. It closed 5 points lower at 10,147.
Formation of a bearish candle after a bullish candle is a sign of caution and does not augur well for the bulls. But bulls managed to push the index higher as it closed 18 points off from its intraday low.
The important level to watch put is Mondays gap of 10115-10131 and a break below this gap could fuel selling pressure.
🎯 News & Impact 🎯
IPO Updates :
SBI life The Rs 8,400 crore IPO opens today.
ICICI Lombard IPO Oversubscribed 3 Times On QIB Support.
🎯 M&M :
Mahindra & Mahindra set to acquire big tractor company in Turkey.
🎯 IT Sector :
US Resumes Premium Processing Of H-1B Visas.
🎯 Telecom Sector :
Mobile Call Connection Charge Cut To 6 p/Minute From 14p Currently, Effective Oct 1.
Negative for the sector.
🎯 BASF :
Company to acquire Solvay's global polyamide business
🎯 Indian Hotels :
Rights Issue Committee Meeting will be held on September 22, 2017 to determine the price of the Issue.
🎯 ENIL :
Entertainment networks commences broadcast from its radio station at Jammu (98.3 FM) - acquired under Phase 3 auctions.
🎯 Omkar Specialty Chemicals :
Lasa Supergenerics to list on 21st Sept.
🎯 Surya Roshni :
Company has obtained orders through competitive e-bidding for LED Luminaire and LED Street Lights amounting to Rs. 48.60 crores for Supply of LEDs Luminaire in United Kingdom.
🎯 Tata Global :
Company has sold 1,04,80,000 Equity Shares each of Tata Chemicals.
🎯 GAIL :
LIC buys 3.4cr shares of GAIL.
🎯 JSW Steel :
Company in discussions to tie up with multiple partners for Bhushan Steel Bid
🎯 PVR :
PVR creates new premium sub-brand Premium Extra Large.
🎯 Bodhtree Consulting :
Company bags order worth Rs.100cr from Medical Council of India to cover 550 medical colleges in the country under the Digital Mission Mode Project II.
🎯 Cadila :
Cadila in pact with Russian firm for chickenpox vaccine.
🎯 Rostec inks pact with mylan labs for HIV drugs
🎯 Royal Hotels:
Ashish Kacholia has sold bulk of his stake in Royal Orchid Hotel through a bulk deal on Tuesday .
🎯 Adani Power :
Two Adani Power companies managed to secure a shade over one third of the total coal auctioned by Coal India under the Shakti scheme by offering discounts ranging between 1 paise per unit and 3 paise per unit over their existing tariffs.
Edited by Sharp.
© Sharp Investment & Financial Advisers
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