After gap down opening market was strictly range bound on today’s trade while selling pressure seen in late trading hours extending losses for a fourth straight session amid low volumes and mixed global cues. Banking & financials, auto and select healthcare stocks drove the market lower while Nifty IT was in green and up very marginally by 0.01 percent.
Now more selling pressure could be seen till its next support i.e. 8090 while on higher side 8170 will act as an immediate resistance.
Global Markets Update
Iran finalized the agreement to acquire 100 jetliners from Airbus, first order to be completed by mid of January 2017. Deal got spilt precisely between narrow body and wide body aircrafts.
Japanese stocks edged down in thin trade on Monday, snapping a nine-day rally as a pullback on Wall Street prompted investors to cash in on outperformers such as exporters and banks.
Cipla Ltd gets Final approval for its Abbreviated New Drug Application (ANDA) for Fenofibrate Tablets USP 48mg and 145mg, from the United States Food and Drug Administration.
Yes Bank Ltd has made a partnership agreement with Ola Cabs to provide cash on demand to its customers on door steps. Services will be available in 10 major metro cities along with all four metro cities.
Lupin Ltd has announced its launch of Voriconazole Tablets, 50 mg and 200 mg and Voriconazole Oral Suspension, 40 mg/mL having received an approval from the United States Food and Drug Administration (USFDA) earlier to market a generic equivalent of PF Prism C.V’s Vfend® Tablets.
Glenmark Pharma shares gains after company announced its “Strategic Blueprint to Transition into an Innovation‐led Global Pharmaceutical Organization over the next decade.”
Oil Manufacturing Stocks (OMC) surged about 2-3 percent on intraday after fuel prices were hike on late Saturday. IOC surged about 3% Hindustan Petro gave bullish opening, though consolidated with marginal loss of 0.7% and BPCL along with Reliance Industries added about 0.60 percent.
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