11th October 2018 Morning Brief

Massive gap down opening expected today after a relief rally and short covering in beaten stocks yesterday.

As mentioned yesterday, Nifty has resistance at around 10500 and it didn't cross the level in yesterday's northward journey. Immediate support of 10190 can be tested today because of weakness in global cues. Nifty should close above 10400 to keep short term uptrend intact formed by last three sessions' higher lows. A breach of 10190 level in Nifty50 can trigger a panic selling into Indian markets.

The US markets declined on Wednesday as investors worried that sharply rising interest rates would constrain the nation’s historic economic expansion and fresh concern about the impact of the trade war with China. Asian markets were trading in red on Thursday after Wall Street suffered its worst fall in eight months.

🎯 News & Impact 🎯

Result Today : TCS

Results Update :

🎯 Zee Entertainment :
Revenues up 24 percent at Rs 1,976 crore versus Rs 1,582 crore.
Net profit down 38 percent at Rs 386 crore versus Rs 625 crore.

🎯 IndiGo / Jet Airways / Spicejet :
The government has announced to cut excise duty on aviation turbine fuel (ATF) from 14 to 11 percent effective October 11.

🎯 PTC India :
Company signed a fresh pact for supplying 200 MW power to Bangladesh for 15 years.

🎯 ITI :
Company received purchase order worth Rs 334 crore for executing RajNet Project from Rajasthan government to setup 40,000 outdoor Wi-Fi access points.

🎯 Dilip Buildcon :
Company has been declared L1 bidder for EPC project worth Rs 1,000 crore by Mahanadi Coalfield for removal of over-burden mining project in Odisha.

🎯 GE Power India :
Company to close its factory at Shahabad with effect from Oct. 11.

🎯 Oil India :
Company made two hydrocarbon discoveries in Assam in the second quarter of this financial year.

🎯 M&M introduced new lease offers for retail buyers. The lease offering includes road tax, insurance, breakdown assistance, accidental repairs and maintenance costs and will be available for retail customers across Pune, Ahmedabad, Bangalore, Hyderabad, Mumbai and New Delhi in the first phase of launch.

Edited by Sharp.
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