Index Trend and Stocks in action October 09, 2015

The Indian stock market snapped its winning streak as investors preferred to book profits ahead of the earning season and the sentiment from the European markets were not supportive. Technically, the index opened on a flat note and its upswing was resisted around levels of 8200 every time it attempted to cross it. Now going forward if the nifty index manages to get past this strong hurdle of 8200 level, we could see further upside in the index up to levels of 8280. On the downside the index should not breach its major support of 8065, if it breaches this support expect a sharp sell-off in the market which will take the index up to levels of 7960.

DLF: Indian’s largest developer my market value, DLF Promoters KP Singh family will sell their 40 per cent stake in the company’s rental arm DLF Cyber city Developers for an estimated Rs 14,000 crore to institutional investors.

Shipi Cable Technologies: Cables manufacturer Shilpi cable Technologies has partnered with New Zealand headquartered Eyecom Telecommunications Equipment’s to make a foray into the antenna business with a view to offer end to end solutions to telecom operators.

Shyam Telecom: Reserve Bank of India (RBI) has put Shyam Telecom under the caution list and said further purchase of equity shares of the company by Non-Resident Indians would be allowed only after its approval. The Foreign shareholding through Non-Resident Indians in the company has reached the trigger limit.

8K Miles: 8K Miles Software Services, a leading secure cloud solutions provider, reported a consolidated net profit after minority interest at Rs 8.74 crore, up 111%, against Rs 4.15 crore in the corresponding quarter a year ago. The net profit of the company increased 21% on quarter on quarter basis (QoQ).