Index trend and stocks in action July 1, 2016

The June series Futures and Options contract expiry ended up being a euphoric session for the Indian benchmark indices as they settled with gains of around a per cent. Nifty registered fresh high for the year 2016 as it went past 8300 mark on an intraday basis. Nifty after spending about a month or so in the range of 50-61.8 per cent retracement level for the down move from the all-time high levels of 9119.20 to low of 6825.80, has managed to close above the 61.8 per cent retracement level convincingly. Now going forward Nifty has hurdle placed around levels of 8340-8350 as this zone was swing high which was registered in the month of October, 2015. If the bulls sustain above this resistance zone, market will make an attempt to test levels of 8550-8630 in the medium term. On the downside, important support is placed around levels of 8240. 

KPIT Technologies: IT firm KPIT Technologies said that its revenue and profits may be flat in the second quarter, compared to first quarter of current fiscal, as ERP implementations revenue has been hit beyond anticipation.
Dewan Housing Finance Corporation: The company has announced that a meeting of the board of directors of the company will be held on July 5, 2016, to consider fund raising by way of public issue of secured Non-convertible Debentures (NCDs).

Stride Shasun: The Company announced successful completion of USFDA inspection at its Oral Dosage Facility in Bangalore.

Mahanagar Gas: Country’s second largest CNG retailer Mahangar Gas, which recently concluded its Rs 1,040 crore-IPO, will make its stock market debut.

IOC, HPCL and BPCL: Petrol price was slashed by 89 paise a litre and diesel by 49 paise a litre, the first decrease in rates in two months.

Auto Stocks: Four and two wheeler stocks will be in focus as auto sale numbers for the month of June will be announced starting July 1.

Satin Creditcare Network: Microfinance lender Satin said its board has given approval to raise foreign shareholding to 49 per cent from the current 24 per cent.

Sintex and NIIT Technologies: Stocks of Sintex Industries and NIIT Technologies will make an entry into the NSE Futures and Options segment.

Godrej Properties: Godrej Properties said its USD 275 million realty fund has made its first investment by acquiring 80 per cent stake in a housing project in Mumbai.