The market continued with its upward
march. On Thursday, benchmark indices ended at their record high levels with
gains of about 1%. Earlier in the day, the market traded in a tight range and
marginally slipped into the red in post lunch deals as selling in heavyweights
like ONGC, HDFC Bank and ITC weighed on the indices. However, in the last half
an hour of trades, the Nifty surged to its magical mark of 6300. On the daily
charts, the Nifty is continuing its sequence of higher-top higher-bottom, which
suggests buying on dips is a better strategy. The Nifty has a strong resistance
at around levels of 6325-6355 on an intraday basis. On the downside it has a
strong support around 6260-6220 levels.
Oracle has launched a newer version
of the Oracle FLEXCUBE to help banks improve their mobile payment facilities
with improved performance and more personalised customer experience. Oracle
FLEXCUBE platform integrates easily with various channels, like call centers,
ATMs and allows customers to access their account remotely. The stock of Oracle
is expected to move up following this development in today’s trades.
LIC has reduced its stake in Tata
Global Beverages by 2.02% by selling 1.25 crore shares in the open market. The
institution held about 7.63% stake in the company, which it reduced to 5.60%.
This reduction of stake by LIC happened over the past many months. The stock of
Tata Global is expected to decline with this piece of information finding its
way to the markets.
The Union Ministry Of Environment
And Forests has recommended the environment clearance for Dharma Ports’ phase –
II expansion, which is an equal joint venture between the Tatas and L&T.
The investment requirement for this expansion stands at Rs 10000 crore to
expand capacity to 100 million Tonnes per annum (MTPA) from 25 MTPA. The Stocks
of both the companies is expected to move up tracking this development.
The RBI has allowed an increase in
the limit of shares and convertible debentures that FIIs can hold in HCL
Technologies Ltd from the earlier 30% to 49% of its paid up equity share
capital under the Portfolio Investment Scheme. The shares of the IT giant will
surely ride on this development in trades today.
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The
market continued with its upward march. On Thursday, benchmark indices
ended at their record high levels with gains of about 1%. Earlier in the
day, the market traded in a tight range and marginally slipped into the
red in post lunch deals as selling in heavyweights like ONGC, HDFC Bank
and ITC weighed on the indices. However, in the last half an hour of
trades, the Nifty surged to its magical mark of 6300. On the daily
charts, the Nifty is continuing its sequence of higher-top
higher-bottom, which suggests buying on dips is a better strategy. The
Nifty has a strong resistance at around levels of 6325-6355 on an
intraday basis. On the downside it has a strong support around 6260-6220
levels.
Oracle has launched a
newer version of the Oracle FLEXCUBE to help banks improve their mobile
payment facilities with improved performance and more personalised
customer experience. Oracle FLEXCUBE platform integrates easily with
various channels, like call centers, ATMs and allows customers to access
their account remotely. The stock of Oracle is expected to move up
following this development in today’s trades.
LIC
has reduced its stake in Tata Global Beverages by 2.02% by selling 1.25
crore shares in the open market. The institution held about 7.63% stake
in the company, which it reduced to 5.60%. This reduction of stake by
LIC happened over the past many months. The stock of Tata Global is
expected to decline with this piece of information finding its way to
the markets.
The Union
Ministry Of Environment And Forests has recommended the environment
clearance for Dharma Ports’ phase – II expansion, which is an equal
joint venture between the Tatas and L&T. The investment requirement
for this expansion stands at Rs 10000 crore to expand capacity to 100
million Tonnes per annum (MTPA) from 25 MTPA. The Stocks of both the
companies is expected to move up tracking this development.
The
RBI has allowed an increase in the limit of shares and convertible
debentures that FIIs can hold in HCL Technologies Ltd from the earlier
30% to 49% of its paid up equity share capital under the Portfolio
Investment Scheme. The shares of the IT giant will surely ride on this
development in trades today.
- See more at:
http://www.dsij.in/article-details/articleid/8797/index-trends-stocks-in-action-for-01-november-2013.aspx#sthash.B2Fy3NCe.dpuf
