Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 18 points or 0.15 percent. Nifty futures were trading around 11,961-level on the Singaporean Exchange.
Nifty has to continue to hold above 10750-10777 zones to extend its move towards crucial hurdle at 10985 and above that, only a fresh leg of the rally could start.
Nifty has been flirting to its 50-DEMA from last 38 trading sessions and got stuck in a broader trading range with crucial hurdle at 10950-10985 zones.
On the weekly price chart, the Nifty index formed a bearish ‘long-legged Doji’ kind of candlestick pattern suggesting indecision among traders on direction.
For the momentum to continue, the Nifty has to hold above 10750-10777 zones to extend its move towards crucial hurdle at 10985 and above that, only a fresh leg of the rally could start towards 11K.
The apex consumer commission slapped a penalty of 12 percent per annum on real estate major DLF Ltd to be given to 50 buyers for delaying giving possession of their flats in its Panchkula project in Haryana, saying it amounted to "cheating"
DLF has been selling non-core land parcel and businesses for the last three-four years to focus on its core real estate business as well as to improve its cash flows and reduce debt.
An Indian appeals tribunal has ordered the country's market regulator to provide proof of its insider trading charges against Factorial Capital Management within two months, adding pressure on investigators to resolve a year-long case.
The decision by Prime Minister Narendra Modi's government to amend the bill, which was submitted by the previous government in 2013 but not passed by the upper house, aims to boost investor confidence and stamp out illegal practices.
DLF Ltd, the country's largest real estate firm, today said it has no unsold inventories despite slowdown in the property market as the company mostly sells flats before the start of construction of projects.
DLF Ltd's fourth-quarterly loss of Rs 4.19 crore on poor sales and losses booked by subsidiaries mirrors the condition prevailing in the Indian real estate sector today.