18th December, 2018 Morning Brief

Market will open negatively because of a sell-off in US markets and weaker start on Asian bourses.

Nifty50 continued it's Northward journey and registered a highest closing since 1st October 2018. Nifty ended at 10888 after touching 10900 level. Now it should sustain above 10800 level and surpass 10950 resistance to leap towards its next target of 11090 & 11400.

A sell-off in U.S. stocks that sent the S&P 500 Index to its lowest close in 14 months spread to Asia, suggesting investor worries about the outlook for growth that are at odds with the projected Federal Reserve interest-rate hike on Wednesday.

🎯 News & Impact 🎯

🎯 Graphite India :
Karnataka State Pollution Control Board renewed the consent to operate for Graphite India’s electrode plant in Bengaluru for a period up to June 30, 2020 only with the condition to shift the unit from the existing location.

🎯 Tata Motors :
Tata Motors-Jaguar Land Rover hired Boston Consulting Group for $3.2 billion turnaround plan.

🎯 NMDC :
Company revised prices of lump ore at Rs.3,250 per ton and fines ore at Rs.2,860 per month with effect from Dec. 13.

🎯 Bank of Baroda :
BoB to shut three overseas branches by June.

🎯 M&M :
Company signed agreement with Sampo Rosenlew Oy, Finland, an Associate of the Company to increase stake from 35% to 49.04%

🎯 Mac Charles Hotels :
Goa based public listed company will add another 160 rooms effective from 1st January 2019, taking the total number of rooms to 238.

Edited by Sharp.