The market opened in the green on June 8, 2020. The previous trading session witnessed the Sensex going up by 306.54 points to end at 34,287.24 and the Nifty was up 113.05 points to close at 10,142.15.

According to Bloomberg news, British pharma company AstraZeneca plc has advanced the proposition for a potential merger to an American biopharmaceutical company, Gilead Sciences Inc

The market opened in the green on June 8, 2020. The previous trading session witnessed the Sensex going up by 306.54 points to end at 34,287.24 and the Nifty was up 113.05 points to close at 10,142.15, overall volumes in futures & options currently stand at 1.57 crore contracts with a turnover of Rs. 8,79,209.60 crore.

The market opened in the green on June 8, 2020, overall volumes in futures & options currently stand at 1.57 crore contracts with a turnover of Rs. 8,79,209.60 crore.

Although the market risk could be assumed to be the same for all the stocks, the stocks themselves exhibit varying idiosyncratic risk. This results in deviations in the stock price behaviour from the majority stocks universe. Presently in the market, two such contrasting stocks are Reliance Industries and Vedanta Limited which help to exhibit this phenomenon.

Wholly-owned subsidiary of Reliance Industries, Jio Platforms, is set to receive funding of Rs 5,683.50 crore from Abu Dhabi Investment Authority (ADIA), an investment which will constitute an equity stake of 1.16 per cent in Jio Platforms on a fully diluted basis.

On the downside, the level of 9,940-10,000 is a key support and on the upside, the zone of 10,300-10,334 is likely to act as a resistance level.  Stocks in news: Wipro, Saregama, Thyrocare Technologies, Reliance Industries, Brigade Enterprises.

Welcome to the first trading session of the week! SGX Nifty’s early trends suggest an ecstatic start for the markets. As a result, the Indian markets are set to be greeted with sanguinity.

IOCL is among the market leaders in the oil refining segment with more than 50,000 marketing touch points to cater to different product mixes. Thus, the restart of economic activity is expected to certainly give some relief to both, the company and the investors.

The stock has bounced from this support zone and formed a reversal three inside up candlestick pattern, which suggest that the bulls were in a dominant position. The reversal from the support is confirmed by the above 50-week average volumes.