DSIJ Mindshare

The retail growth fizzles out the overall growth in bank credit. What does it hint? Let’s find out.

The level of 10,600 would act as immediate resistance and on the downside, the level of 10,480 followed by 10,400, are likely to act as an important support zone. Stocks in news: PTC India Financial Services, Reliance Industries, Cadila Healthcare, JB Chemicals & Pharmaceuticals, Motherson Sumi, Hindustan Unilever.

In the previous trading session, Nifty and Sensex ascended to the highest level in four months, where Nifty contentedly settled above its psychological level of 10,500. Auto stocks contributed largely to the rally as the monthly figures showed some optimistic trend, especially in two-wheelers and tractors segment.

The stock of Hindalco Industries Limited has been picked up by our Bollinger Band Squeeze scanner, which suggests that the stock is near a consolidation breakout.

Kolkata-based infrastructure company, GPT Infraprojects announced after trading hours on Thursday that it has received an order worth Rs 102.80 crore from National Highways & Infrastructure Development Corporation Limited (NHIDCL).