Stock Market News and Analysis:

Equity benchmark remained volatile ahead of August F&O expiry with Nifty ended below 10,950 level. Among sectors, bank, FMCG and Auto witnessed selling pressure, while metal, pharma and infra ended higher. Nifty closed at 11023.25 and for coming session its key support is at 10870 while on higher side its resistance is at 11150.

Headlines for the day:

  • Adani Green inked an agreement to acquire 205 MW solar assets.
  • L&T’s Power business secured ‘Large’ order from THDC.
  • GRUH Finance shares rose on report of HDFC’s plan to sell 9.2% stake in co. in open market.

Key stocks:

  • Tata Motors announced its sales in the domestic & international market, for August 2019, which stood at 32,343 vehicles, compared to 62,688 units during August 2018. Company reported a 58% fall in its domestic passenger vehicle sales at 7,316 units in August.
  • Mahindra & Mahindra, a part of the USD 20.7 billion Mahindra Group, announced its auto sales performance for August 2019. In the Passenger Vehicles segment, Mahindra sold 13,507 vehicles with a dropped of 32% in August 2019, compared with 19,758 vehicles in August 2018.
  • Hero MotoCorp sold 5.43 lakh units of motorcycles and scooters in the month of August 2019. With this, the company reported a growth of nearly 1.5% over the previous month, when it had sold 535,810 units of two-wheelers.
  • HDFC Bank has agreed to sell its entire stake of 10% in the equity share capital of Goods & Services Tax Network for a total consideration of Rs1cr to various state governments and Union Territories.
  • Dilip Buildcon share were traded flat as company executed an engineering, procurement, construction (EPC) agreement with the ministry of road transport and highways for works in Karnataka.
  • NTPC Limited share prices declined 3% in the afternoon trade. Company has incorporated a wholly-owned subsidiary in the name of “NTPC Mining Limited” with Registrar of Companies, NCT of Delhi on Thursday for taking up coal mining business.
  • BHEL announced that it is setting up a network of solar-based Electric Vehicle Chargers on the Delhi-Chandigarh Highway. The five chargers recently inaugurated are located at the resorts of Haryana Tourism Corporation Ltd. at Kurukshetra, Ambala, Panipat, Karnal and Samalkha (Sonepat) on Delhi-Chandigarh highway.
  • Calls for Tomorrow :

  • CALL: BUY APOLLOTYRE EQ ABOVE 173 TARGETS 174.75/176.50/178.20 SL 171.25
    Description:
    Stock form consolidation and settled near its immediate resistance with bullishly bias on daily chart. Hence rally is expected above the mentioned level.
  • CALL: BUY CONCOR EQ ABOVE 510.50 TARGETS 515.65/520.75/525.85 SL 505.40
    Description: Stock settled near its immediate resistance with bullishly bias. Hence breakout is expected ahead.
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Stock Market News and Analysis: Equity benchmark remained volatile ahead of August F&O expiry with Nifty ended below 10,950 level. Among sectors, bank, FMCG and Auto witnessed selling pressure, while metal, pharma and infra ended higher. Nifty closed at 11023.25 and for coming session its key support is at 10870...
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