Daily Market Reports From CapitalHeight

Market commentary

Today the NIFTY 50 formed a big bearish candle with recorded a loss of 88.00 points at 12126.55,with a steep slope index gone down throughout the day and formed a big bearish candle in comparison with yesterday candle.

The Index was turned from life time high and now we expect that the market will show more profit booking in the upcoming sessions it means about to make three black crow pattern.

Yes bank, Bharti Airtel, Reliance, Sun Pharma and Adani ports were among major losers on the Nifty, while gainers were Ongc, Vedl, Jsw steel, Ntpc and Bajaj finance.

Nifty PSU Bank index ended down 1.46% at 2495.6 today.Among the constituents, Syndicate Bank slipped 9.06%, Union Bank of India fell 6.68% and Allahabad Bank dropped 5.08%.

At the close NIFTY BANK Formed a big Bearish candle down 0.88% or 283.05 points at 31997.70 while Sensex was down 297.5 points at 41,163.76

                                                            
                                                        Nifty 50 Index

                                                                             

BANK NIFTY

                                                                         

NEWS Highlights

   

SML Isuzu Share price of commercial vehicle manufacturer jumped over 7 percent intraday on December 26 while volumes increased more than 26.03 times.The stock has gained over 15 percent in the last one month. It was trading at Rs 591.05, up Rs 42.35, or 7.72 percent, at the time of writing this copy. It has touched an intraday high of Rs 616.50 and an intraday low of Rs 552.20.

 

ICRA has revised the long-term rating and reaffirmed the short-term rating of the company. SML Isuzu's long-term banking facilities has been revised to ICRA AA- (negative) from ICRA AA (stable) amid slowdown in the commercial vehicle (CV) industry, which is likely to persist in the near term given the slowing economic growth, surplus capacity in the trucking system and credit crunch, the company said in a filing to the exchanges.

ICRA has reaffirmed SML Isuzu's short term banking facilities and commercial papers to ICRA A1+.

 

Piramal Enterprises on December 25 said it will raise up to Rs 2,750 crore by issuing bonds on private placement basis.

 

"A meeting of the Administrative Committee of the Board of Directors of the Company will be held on Saturday, 28th December, 2019, to consider and approve the issue of secured non-convertible debentures on private placement basis amounting up to Rs 2,750 crore," it said in a regulatory filing.

Piramal Enterprises said the money can be raised in one or more tranches from time to time.

 

Eveready Industries India jumped 10 percent intraday on December 26 after the company was allowed to go ahead with the sale of its property at Hyderabad.

 

Delhi High Court (HC) has been pleased to vacate the said ad‐interim order of injunction to the extent that the company has been allowed to go ahead with the sale of the property at Hyderabad in terms of the agreement for sale dated August 30, 2019, company said in release.

 

Earlier, the HC had passed an ad‐interim ex‐parte order of injunction by which, the company had been restrained from selling, transferring, alienating, disposing, assigning, dealing, encumbering or creating third party rights on any of its assets, and carrying out any change in its capital structure, or any corporate or debt restructuring till the date of the next hearing in the matter filed against some of the promoters of the company, with regard to certain alleged dues.

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