Index trend and stocks in action March 27, 2017

On Friday, Nifty opened the session on a positive note, and thereafter it shifted into a range bound mode for the better part of the trading session. Profit booking emerged towards the end, and Nifty ended the session with marginal gains. On the daily chart there is a formation of a ‘Doji’ like candlestick pattern, and this pattern is not giving any negative clue as of now. Going forward, immediate support for market stands around levels of 9060, and breach of this support level may open up for correction upto levels of 9000, the level of 9000 being a major support level. On the upside, Nifty needs to sustain above 9170 to continue its up-move up to levels of 9220-9250.

HDFC: HDFC has issued the largest tranche of Masala Bonds in the global market, worth Rs 3300 crore, at a coupon rate of 7.35 per cent, payable semi-annually. While the original size of issue was Rs 2000 crore, it also exercised its green-shoe option of another Rs 1300 crore.

Bajaj Auto: Kawasaki of Japan and Bajaj Auto have ended their long relationship.

Reliance Industries: To appeal against SEBI's order, penalising it a sum of Rs 1,000 crore for fraudulent trades.

Coal India: The State-owned Coal India announced another interim dividend of Rs 1.15 per share, of face value of Rs 10.

State Bank of India: Board approves selling 10 per cent stake in SBI Life Insurance Company via an IPO.

GVK Power and Infra: Completes stake sale in Bangalore International Airport. Stake sold to FIH Mauritius Investments Ltd., and Fairfax India Holdings Corporation for Rs 2,202 crore.