Index trend and stocks in action February 09, 2018

In the previous trading session, the Nifty index snapped its seven-day losing streak and closed in the positive terrain. The price action formed a bull candle with shadows on either side. Going forward, the zone of 10,600-10,640 is likely to act as an intermediate hurdle as the 50-day EMA is placed in this region and, additionally, the 38.2% retracement of the recent fall from 11,172 to 10,276 is placed in this zone. Hence, a decisive move above 10,600-10,640 would lead to extension of the pullback rally toward 10,720. On the downside, the level of 10,270-10,300 is a strong support for the Nifty. 

Canara Bank: Canara Bank to raise additional equity share capital up to Rs. 1,000 crore through QIP, rights issue, preferential issue of shares. 

Vijaya Bank: The board has approved the issue of equity shares on a preferential basis to Government of India for an amount up to Rs. 1,277 crore. 

Axis Bank: Bank has executed an agreement for sale of 20,00,000 equity shares of face value of Rs. 10/- per share of NSDL at Rs. 825 per share , resulting in a total cash consideration of Rs. 165 crores . 

Mcnally Bharat Engineering: Company's board to consider fundraising proposal in its meeting to be held on February 13. 

Eros Media: Eros International divested its entire 51 per cent stake in wholly-owned subsidiary Ayngaran International to a British citizen. 

VEDL: VEDL to close all mining operations in Goa from with effect from March 16, 2018. 

IGL: Indraprastha Gas got authorization for Karnal CGD Network. 

SQS India BFSI: Company shuts down its Australian branch office.