Market will open on a positive note with a gap today.
The market continued to rally for the third consecutive session on December 28. Easing tensions between Donald Trump and the Federal Reserve, and hope of likely positive talks between US and China over trade lifted investors sentiment. Stability in crude oil prices and rupee also aided the rally.
Nifty has made an ascending channel pattern on the daily chart commenced from 26th Oct with higher highs and lower lows. Upper breakout may comes around 11100 whereas support comes at around 10700.
🎯 News & Impact 🎯
🎯 Reliance :
Subsidiary Reliance Industrial Investments and Holdings Limited (RIIHL) entered into a binding agreement with renewable energy services company Kanoda Energy Systems Private Limited for acquisition of equity shares for a cash consideration not exceeding Rs.75 crore.
🎯 Cadila Healthcare :
Zydus Cadila received the final approval from the USFDA to market Clindamycin Phosphate and Benzoyl Peroxide gel which is used to treat a certain type of acne.
🎯 Aavas Financiers :
Company received fresh refinance assistance of Rs 400 crore in addition to the approval of undrawn limit of Rs 100 crore pertaining to previous year, in December 2018.
🎯 Bharat Financial Inclusion :
Company assigned a pool of receivables of Rs 849.36 crore to one of the largest private sector banks on a direct assignment basis. With this transaction, the company has completed Direct Assignment transactions worth Rs 3,864.91 crore in FY19
🎯 Powergrid :
entered into a loan agreement for 200 million euros with Germany’s KfW for financing of transmission project for integration of clean energy and system strengthening.
Edited by Sharp.
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