MARKETS LIVE: Sensex, Nifty trade flat; Britannia hits 52-week high post Q1

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SI Reporter | New Delhi August 7, 2017 Last Updated at 12:24 IST

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The markets were trading flat with a positive bias on Monday taking cues from Asian markets which got a boost following Wall Street's postive performance on Friday after stronger-than-expected jobs growth in July.

Back home, Tata Steel hit its 52-week high ahead of its June quarter earnings, and contributed most to the gains in Sensex and Nifty.

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12:24 PM Nifty Bank trades positive

The Nifty Bank index was trading 0.3% higher. The index lost 1.2% since last Tuesday as investors were disappointed after India's central bank maintained a "neutral" stance despite cutting interest rates by 25 basis points.

12:06 PM Nifty Realty (up 1%) was the leading sectoral gainer

Source: NSE

11:44 AM Earnings impact

Britannia surged over 6% to Rs 4,140, its fresh 52-week high, after the FMCG major reported 1.5% decline in its consolidated net profit at Rs 216 crore vs 219 crore reported in the same quarter of previous fiscal year.

11:30 AM Value funds of one-year tenor falling under the equity category continue to be under-performers due to over exposure to sectors like IT and pharma that have missed the ongoing bull-run in the markets. CLICK HERE FOR FULL REPORT

11:17 AM

Govt gears up for divestment drive

After a brisk start to the Centre’s 2017-18 disinvestment programme, the finance ministry’s Department of Investment and Public Asset Management (Dipam) has lined up a healthy pipeline to meet a highly ambitious target of Rs 72,500 crore. CLICK HERE FOR FULL REPORT

10:37 AM

Tata Steel hits 52-week high

Shares of Tata Steel rose over 3% to hit fresh 52-week high of Rs 593 in early trade ahead of its first quarter results to be announced later in the day.

10:05 AM Markets check

At 10:00 am, the Sensex was trading at 32,315, down 9 points, while the broader Nifty50 was ruling at 10,067, up 1 point.

9:52 AM

Govt launches new ETF

Review: Bharat-22 ETF is for investors with equity exposure. CLICK HERE TO READ DETAILS

9:42 AM

Market outlook by HDFC Securities

During the course of the week we will get manufacturing data from across the globe. In terms of results, 13 Nifty companies including Tata Motors, Tata Steel and SBI will report their quarterly numbers. Markets should be happy that the US continues to do add jobs in the ninth year of recovery. The economy added 2, 09,000 new jobs in the month of July. Analysts were expecting 1,75,000 job additions. The unemployment rate was knocked down to a 16-year low of 4.3%.

The better than expected job numbers nudge the US Fed to soon start contracting their balance sheet. However, it may not be before the September meeting of the FOMC. However, that will not adversely impact our markets. Expect the Nifty to gradually inch higher this week.

9:35 AM Sectoral trend

All but two sectors were trading in green.

Source: NSE

9:31 AM Broader markets outperform

The BSE Midcap and the BSE Smallcap indices added 0.6% each, outperforming Sensex and Nifty.

9:29 AM

Top Sensex gainers and losers

Source: BSE

9:27 AM

Earnings impact

Jaiprakash Associates surged a whopping 16% to Rs 30 after the company on Saturday reported a standalone net profit of Rs 764.99 crore in the quarter ended June, on higher income and lower expenses incurred during the period.

9:20 AM Markets at open

At 9:19 am, the Sensex was trading at 32,377, up 52 points, while the Nifty was at 10,085, up 19 points.

9:16 AM

Nifty outlook by Angel Broking

We expect the index to remain within a range of 10,150-9,944 for a while and hence, one should ideally continue focusing on individual stocks that are offering much better trading opportunities.

9:13 AM

Technical picks

Buy Radico Khaitan at current levels and on declines at Rs 143 for a target of Rs 159 over the next 6- 8 sessions. CLICK HERE FOR MORE PICKS BY ANGEL BROKING

9:11 AM

Technical picks

BAJAJ AUTO - BUY

CMP: Rs 2,874.65

TARGET: Rs 3,120

STOP LOSS: Rs 2,820

MORE STOCK PICKS FROM PRABHUDAS LILLADHER

9:09 AM Technical picks

One can buy Adani Ports with a stop loss of Rs 389 for the target of 418-425 levels in short term. CLICK HERE FOR MORE TECHNICAL PICKS

9:06 AM

Nifty Outlook by Devang Shah

Short-term outlook for the market remains positive till Nifty trades above 9,709 levels and is expecting target of 10,400 levels in the short-term. Medium term outlook for the market remains positive till Nifty trades above 8,968 levels and is expecting targets in the range of 12,000-12,200 levels in medium term. CLICK HERE FOR MORE

9:04 AM Commodity picks

Turmeric prices expected to continue to trade higher towards Rs 7,770 in the coming days. READ HERE MORE

9:02 AM Pre-open trade

At 9:01 am, the Sensex was trading at 32,498, up 172.61 points, while the broader Nifty50 was ruling at 10,095, up 29.45 points.

8:53 AM Asian markets

Asian stocks advanced on Monday, taking their cue from Wall Street's strong end to the previous week, while the dollar finally pulled ahead after stronger-than-expected jobs growth in July. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.2% in early trade. Japan's Nikkei added 0.5%. South Korea's KOSPI climbed 0.3%, while Australian shares jumped 0.8%.

8:51 AM Singapore Nifty

At 8:50 am, the Nifty was trading at 10,104, up 3 points or 0.03%.

8:49 AM Good Morning!

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