Market will open with negative bias as SGX Nifty is trading down by 13 points.
After a gap-down opening, market extended the losses die to rupee fall and US China renewed trade tensions. Nifty has broken the psychological support of 11500. Nifty has plotted a long bearish candle on the daily chart. Nifty has a support at 11400 level and we can expect a bounce-back from the level if global markets will be supportive.
🎯 News & Impact 🎯
Ex-Bonus - GSK Pharma
🎯 Sun Pharma :
Sun Pharma’s wholly owned subsidiary to acquire 18.75% stake in Israel based Tarsius Pharma for $3 million.
🎯 Reliance Home Finance :
Revenue from operations grew 5.5 % to Rs.404 crore.
Net profit rose 41 % to Rs.48 crore.
Abu Dhabi Investment Authority, Singapore's sovereign wealth fund GIC and Public Sector Pension Investment Board of Canada are in race to pick 25 % stake in Reliance Home Finance for Rs.1,500-2,000 crore.
🎯 JP Associates :
ICICI Bank filed bankruptcy petition against the Jaiprakash Associates.
Negative for the stock.
🎯 Container Corporation of India :
Company signed an agreement to form joint working group with Central Warehousing Corporation, to operate its container freight station facility at Pipavav port.
🎯 Indian Wood Products Company : Company has received the licence to establish and operate in Jammu & Kashmir from the Conservator of Forest, East Circle Jammu.
Edited by Sharp Investment & Financial Advisers
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