Stock Market News and Analysis:
Benchmark Indices traded with a negative bias throughout the day as across-the-board profit booking weighed in. Nifty settled at 12226.65, down by 55.55 points and for coming session its key support is at 12190 while on higher side its resistance is at 12265.
Headlines for the day:
- ONGC Limited walked away with all the seven oil and gas blocks on offer in the latest bid round that saw just eight bids coming in.
- Hero MotoCorp Limited reported a 6.41% decline in total sales at 4,24,845 units in Dec. 2019.
- TVS Motor Company Limited reported a 14.67% decline in total sales to 2,31,571 units in December 2019.
- InterGlobe Aviation Limited share prices surged 3% after the aviation company stated a meeting of shareholders will be convened on January 29, to seek approval for certain changes in the company's articles of association.
- Info Edge (India) stated that the Company has entered into an agreement for divestment of its total shareholding, on fully converted & diluted basis, in Applect Learning Systems Private Ltd. (Meritnation).
- Union Bank of India and State Bank of India are looking to sell their non-performing loans totalling Rs 2,836 crore to banks, asset reconstruction companies and other financial institutions.
- Rites Limited stated that it has secured a major work of project Management Consultancy from the Government of Bangladesh amounting to USD 14.01mn in relation to 4 laning of National Highway in Bangladesh.
- JSW Energy Limited share prices surged 1% after the company has entered into an agreement with JPVL, 2020 to re-structure the principal outstanding amount of Rs751.77 crore, owed by JPVL to the Company.
- NMDC Limited has informed the exchanges about setting of the prices of Iron Ore effective from 2nd January 2020 v LumpOre(65.53, 6-40mm) @ Rs.2,800/- per ton and Fines (643, - 10mm) @ Rs. 2,560/- per ton.
- HG infra Limited informed that H.G. Rewari Ateli Highway Private Limited has received the financial closure letter dated January 02, 2020, from the National Highways Authority of India.
Calls for Tomorrow:
- CALL: SELL HINDUNILVR EQ BELOW 1918 TARGETS 1898.80/1879.60/1860.45 SL 1937.20 Description: Stock form consolidation and settled near its immediate support with bearishly bias on daily chart. Hence rally is expected below the mentioned level.
- CALL: SELL MARUTI EQ BELOW 7222 TARGETS 7149.75/7077.55/7005.30 SL 7294.25 Description: Stock settled near its immediate support with bearishly bias on daily chart. Hence breakout is expected ahead.