News for Fine Organic Industries Limited (FINEORG.NS)

Indian markets closed slightly lower as gains in financial and oil & gas stocks were offset by consumer sector declines. Investors remained cautious ahead of the RBI policy meeting, with expectations of a rate cut driving interest in rate-sensitive sectors.

Indian benchmark indices recorded their worst session in over a month, pressured by uncertainty surrounding the US presidential election. The Nifty declined 1.27% to 23,995, and the Sensex dropped 1.18% to 78,782. Analysts suggest that the Nifty might extend its correction towards 23,650, while a decisive move above 24,100 could trigger a rally.

Indian blue-chip equity indices reversed their earlier gains and closed lower on Tuesday, contrasting a broadly positive global momentum, dragged by profit booking with analysts citing valuation concerns and global uncertainties as factors denting sentiment.

"On the hourly chart, the index has given a consolidation breakout. The RSI is in a bullish crossover on both the hourly and daily timeframes. A fresh leg of bullishness starts above 25,000, while support is placed at 24,900. If the index falls below this level, it might correct down towards 24,750," said Rupak De, Senior Technical Analyst, LKP Securities.

Shares of CAMS, Fine Organic Industries, Nykaa, Jindal Saw, Nuvama Wealth Management, Deepak Fertilisers, and Apar Industries among others witnessed strong buying interest from market participants as they scaled their fresh 52-week highs, signaling bullish sentiment.

The NSE Nifty 50 settled at 24,801, while the S&P BSE Sensex ended at 81,343. Closing at over 24,800, Nifty surged 188 points on Thursday, forming a long bull candle on the daily chart. The 10-day EMA provided consistent support during periods of consolidation throughout the expiry session.

Nifty on Wednesday ended 22 points lower to form a Doji candle on the daily charts, which indicates chances of a minor pullback rally. Minor degree positive chart patterns like higher tops and bottoms have been negated recently as per the daily chart.

Nifty on Wednesday ended 338 points lower to slip below its immediate support of short-term moving average i.e. 20-DEMA and also breached the trendline support.

The blue-chip index NSE Nifty50 added 0.14% to 21,983, while the BSE Sensex gained 0.27% to 72,500. Both the benchmarks gained about 1% in February. In a volatile trading session on monthly derivative expiry, Nifty ended 32 points higher just above the 21-day Exponential Moving Average (21EMA). However, the prevailing sentiment appears somewhat negative from the current level.

Fine Organic Industries Limited invests ₹60 crore in Non-Convertible Preference Shares to support subsidiary's manufacturing unit. Shares down 1.4% to ₹4,985.20.

The company has committed to subscribe to 10,000 equity shares at a par value of Rs 10 per share.

Live updates on India's equity markets on Oct. 11.

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Crossing the 200-day SMA is a notable technical signal that can offer valuable insights to traders and investors.

Based on the open interest future percentage, a short build-up was seen in 69 stocks, including Laurus Labs, ABB India, Shriram Transport Finance, Coal India and Dr Lal PathLabs

Today, on August 10, the Indian equity markets have remained mostly flat. Nifty closed at 17,423.65 points today. Later, Nifty 50 closed at 17,534.75 points, up by 0.53%, while Sensex closed at 58,817.29 points, down by 0.06%. Major banking indices have shown a mixed trend today. Nifty PSU Bank fell 0.46%, and Nifty Private fell 0.54%. However, Nifty metal surged by 1.62% today.

Benchmark indices were trading with marginal gains amid subdued global sentiment. A total of 60 stocks touched 52-week high on BSE, while over 30 scrips were at fresh lows.

Indian benchmark indices were trading flat on Wednesday as IT, and auto stocks saw selling pressures. Both BSE Sensex and the NSE Nifty50 were fluctuating between gains and losses in volatile trading. The broader markets, meanwhile, outperformed the two indices.

While the benchmarks battled marginal losses, 59 stocks on the BSE hit their 52-week high and 38 hit fresh lows.