Stock Market News and Analysis:

Market traded range bound on the last trading session of 2018 led by mixed Asian and European cues. The Nifty ended 2018 below 10,900 at 10862.55 and for coming session its key support is at 10800 while on higher side its key resistance is at 10925.

Headlines for the day:

  • Bharat Financial assigned a pool of receivables of Rs849 crore to one of the largest private sector banks on a direct assignment basis.
  • Reliance Industries Limited acquires Kanoda energy systems.
  • JK Cement closed its Qualified Institutional Placement (QIP) and approved the issue price of Rs695.80 per equity share.
    Key stocks:
  • Marico share prices were trading lower the last hour of trading session amid reports that the Cabinet has approved a hike in the minimum support price for Copra by more than Rs2,000 per quintal for the 2019 season.
  • Bharat Heavy Electricals Limited has secured a major order for setting up a 660 Mega Watt supercritical thermal power plant in West Bengal valued at Rs3,500 crore. The order for setting up the 1x660MW Sagardighi Thermal Power Project Extension Unit-5 at Manigram village in Murshidabad district of West Bengal has been placed on BHEL by West Bengal Power Development Corporation.
  • Steel Strips Wheels Limited has secured another prestigious export order from Volkswagen Mexico for supplies to their Pacheco, Argentina plant. The company bagged an order worth Rs46 crore from Volkswagen Mexico for supply of 3.5 lakh steel wheels which will be supplied from its Chennai plant.
  • Bank of India share prices surged 1% in intraday trade after the government announced injecting money into the bank to the tune of Rs10,086 crore.
  • Cadila Healthcare Limited share prices were trading 1% higher as the company received approval from the US Food & Drug Administration to market Clindamycin Phosphate and Benzoyl Peroxide Gel.
  • L&T’s construction arm of has secured orders worth Rs2,084 crore. The Power Transmission and Distribution Business of L&T Construction has secured EPC orders worth Rs2,084 crore.
  • Lupin Limited has got the approval for its Clobazam Oral Suspension, 2.5 mg/mL from the USFDA to market a generic version of Lundbeck Pharmaceuticals LLC’s Onfi Oral Suspension, 2.5 mg/ml.
  • Calls for Tomorrow :

  • CALL: BUY PFC EQ ABOVE 108.15 TARGETS 109.25/110.35/111.40 SL 107.05.
    Description
    : Stock heading towards its key resistance on daily chart & rally is expected above the mentioned level.
  • CALL: BUY AMBUJACEM EQ ABOVE 226.20 TARGETS 228.50/230.70/233 SL 223.90
    Description: Stock heading towards its immediate resistance on daily and breakout is expected above 226.20.
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Stock Market News and Analysis: Market traded range bound on the last trading session of 2018 led by mixed Asian and European cues. The Nifty ended 2018 below 10,900 at 10862.55 and for coming session its key support is at 10800 while on higher side its key resistance is at...
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