Index Trends And Stocks In Action Ju1y 01, 2015

After moving in a tight band till midafternoon session, the market rallied smartly to close on a firm note. Healthcare, FMCG, Metals and Consumer durables stocks rallied sharply. Technically, the index has filled the downside gap which was created on Monday on back of panic selling due to the Greece debt crisis. Now going forward the index has major hurdles in zone of 8440-8480.Only if the index manages to get past this resistance zone, one can expect the upward momentum to continue. On the downside important support level for the index is around the level of 8330 and next support around the level of 8240.

Kotak Mahindra Bank: Kotak Mahindra Bank, which acquired ING Vysya Bank in an all-stock deal, last year said it expects to end the integration process by end of this financial year. After acquiring ING Vysya, Kotak Mahindra Bank became the fourth-largest private lender in the country after ICICI Bank, HDFC Bank and Axis Bank.

Cholamandalam Investment and Finance: The financial services arm of the Murugappa Group i.e. Cholamandala Investment and Finance, has tied up with taxi hailing app Ola offering its drivers the option of paying loans daily, instead of EMIs (Equated Monthly Instalments). Chola has customised its services to cater better to this target group. It provides an array of benefits raging from quick loan approval and easier documentation.

IOC, BPCL & HPCL: Petrol prices were cut by 31 paise per litre and diesel prices by 71 paise a litre in line with fall in international oil rates and rupee appreciation.

Time Technoplast: Packaging firm Time Technoplast said it has acquired the remaining 50% stake in a joint venture in Egypt for USD 9, 00,000. The company had set up a 50:50 JV with local partner in Egypt for manufacture of drums, jerrycans and pails at Suez in Egypt.