24th May, 2019 Morning Brief

Market will open on higher side after witnessing biggest intraday fall in 11 years.

U.S. stocks retreated further on Thursday and investors sought refuge in gold and bonds as the world’s two largest economies hardened their trade-war stances.

Nifty formed a long bearish engulfing candle on the daily chart yesterday. It will take few sessions to surpass it's new high made yesterday and cool down the risen volatility index. 11400 will be considered as a good immediate support whereas 12041 will be the resistance going ahead.

🎯 News & Impact 🎯

Major Results Today :
Grasim, JSW Steel,

🎯 Infosys :
Company completes formation of strategic partnership with ABN AMRO in the Netherlands.

🎯 Reliance Nippon Life Asset Management :
Company's promoter Reliance Capital plans to cumulatively sell 8.66 percent stake in the company aggregating to Rs 1,155 crore. 

🎯 Radico Khaitan :
Pollution Control Board revoked the closure directions on the company’s Uttar Pradesh plant. 

🎯 Cipla :
Company signed an agreement to acquire 26 percent stake in AMP Solar Power Systems for Rs 12.9 crore. The commercial operation of the target company will start from May 2020.

🎯 Omax Autos :
Company entered into an asset purchase agreement with Hema Engineering Industries.

🎯 Zensar Technologies :
Company partnered with South African based insurance company Sanam to provide digital solutions.

🎯 Om Metals Infraprojects :
Company partly sold its packing division.

🎯 Max Financial Services :
Company promoter group Max Ventures Investment Holdings created pledge of 60,000 shares on May 20.

🎯 Future Lifestyle Fashions :
Company promoter Ryka Commercial Ventures created pledge of 21.5 lakh shares on May 22.

🎯 Chambal Fertiliser & Chemicals :
Company promoter Zuari Global created pledge of 2.5 crore shares on May 21.

🎯 Aurobindo Pharma :
Company promoter group M Sumanth Kumar Reddy created pledge of 2.5 lakh shares on May 20.

🎯 Wockhardt :
Company promoter Themisto Trustee created pledge of 1.5 lakh shares on May 20.

🎯 MOIL :
Company inks MoU with ministry of steel for FY2019-20.
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Edited by Sharp.