Stock Market News and Analysis:

Equity benchmarks ended near day’s low with Nifty finished below 11,600 level. Among sectors barring auto and pharma, all other sectoral indices ended in red led by metal, bank, infra, IT, energy and FMCG. Nifty closed at 11584.30 and for coming session its key support is at 11500 while on higher side its key resistance is at 11680.

Headlines for the day:

  • Info Edge (Naukri) has invested through its wholly-owned subsidiary Rs 6 crore in Bizcrum Infotech Private Limited.
  • Avenue Supermarts (DMART) has raised Rs50 crore through commercial papers.
  • Jet Airways has massively cut its operations from its main hub Mumbai to just about 32 flights.

Key stocks:

  • Lupin Limited announced the launch of Fluoxetine Tablets USP, 60mg, having received an approval from the USFDA earlier. Lupin’s Fluoxetine Tablets USP, 60mg, is the generic version of Alvogen Group Holdings 3 LLC’s Fluoxetine Tablets, 60mg.
  • Wipro Limited share prices surged higher 2% after media reports suggested that the company has received approval from the Securities and Exchanges Board of India for its buyback proposal.
  • Hindalco Industries share prices were trading lower in the morning trade. The company stated in the regulatory filing that there was an incident in the red mud (bauxite residue) storage area connected to the alumina plant situated at Muri, Jharkhand, on April 09, 2019.
  • Praj Industries Limited has inked a Construction License Agreement with Gevo, Inc, the USA on April 04, 2019, to commercialize the technology for the production of lsobutanol using sugary-based feedstocks, such as juice, syrup and molasses. Pursuant to the CLA, Praj will provide Engineering Procurement and Construction services to third parties using a process design package developed by Praj.
  • Mindtree Limited informed that Board of Directors of the Company will consider declaration of interim&/ special dividend in a meeting scheduled for April 17. The record date for payment of Interim&/ Special Dividend, if approved, will be April 27, 2019.
  • State Bank of India has cut its MCLR by 5 basis points across tenors, the bank said in a statement on their website. Accordingly, the one-year MCLR was cut from 8.55% to 8.5% effective April 10, 201
  • Tata Motors Group global wholesales in March 2019, including Jaguar Land Rover, were at 1.45 lakh units, lower by 5%, as compared to March 2018 Global wholesales of all Tata Motors’ commercial vehicles and Tata Daewoo range in March 2019 were at 57,163 units, marginally higher by 1%, over March 2018.
  • Calls for Tomorrow :

  • CALL: BUY SIEMENS EQ ABOVE 1174.80 TARGETS 1186.55/1198.30/1210 SL 1163.05
    Description
    : Stock heading towards its key resistance on daily chart and settled with bullishly bias. Hence rally is expected below the mentioned level
  • CALL: BUY MINDTREE EQ ABOVE 976 TARGETS 985.80/995.55/1005.30 SL 966.20
    Description: Stock heading towards its immediate resistance on daily chart settled with bullishly bias. Hence breakout is expected ahead.
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Stock Market News and Analysis: Equity benchmarks ended near day's low with Nifty finished below 11,600 level. Among sectors barring auto and pharma, all other sectoral indices ended in red led by metal, bank, infra, IT, energy and FMCG. Nifty closed at 11584.30 and for coming session its key support...
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