25 September 2018, Morning Brief

Market may open on a flat-positive note as SGX Nifty is trading up by 19 points.

Yesterday, market could not sustain on the upper side and slipped into red immediately after opening positively. Nifty closed below its 11000 mark and made a bearish belt hold pattern on the daily chart.

Liquidity crunch in NBFCs, trade tensions between US and China, rising crude oil prices and weakening rupee weighed on sentiment made investors more fearful.
IT stocks supported the index from sliding more. TCS was the top gainer and Eicher & HDFC were among the top losers other than Indiabulls housing finance.

Nifty Outlook :

Nifty has to close above 11050 to breach the 6 sessions' descending trend. Down side has been opened upto 10850-10760 level.

🎯 News & Impact 🎯

🎯 Yes Bank :
clarifies on news report "RBI slaps Yes Bank with Rs 38 crore over GST Violations': Heading used by news agency is inappropriate and RBI has not imposed any fines/ penalties over GST violations on the bank.
Positive for the stock. 👍

🎯 HFCL :
Company received purchase orders for Rs 558.36 crore from Bharat Sanchar Nigam (BSNL) for PAN Indian Defence Communication Network.
Positive for the stock. 👍

🎯 SBI Life :
BNP PARIBAS Cardif may consider reducing its shareholding in the company.

🎯 Vakrangee :
Company entered into distribution agreement with Aditya Birla Housing Finance, which shall offer distribution of home loan and other related products.

🎯 Mangalam Drugs & Organics :
Company received the final approval from WHO for the drug Efavirenz.

🎯 ABB :
Company launched its most economical charging solution for electric vehicles.

🎯 Zensar Tech :
Company launched 3 in 1 Insurance Module, which provides insurance companies a centralised data environment across consumer, agent and employee data. 

🎯 Infosys :
Public Services and Procurement Canada selects Infosys public services to deliver its electronic procurement solution.

🎯 ENIL :
Company commenced broadcast from its radio station at Hubli-Dharwad (98.3 FM) - acquired under Phase 3 auctions.

🎯 Majesco :
CCMSI selects Majesco Policy and Billing for P&C on Majesco Cloudlnsurer and Majesco Insurance Data & Analytics Platform.

🎯 Sadhana Nitrochem :
Board approved sub-division of a share of Rs.10 into two equity shares of Rs. 5 each.

Edited by Sharp.
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