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MARKETS LIVE: Indices trade flat, Nifty hovers near 10,900; auto stocks up

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SI Reporter  | New Delhi 

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EVENT HIGHLIGHTS

Markets, Stocks, BSE, NSE, SENSEX
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The benchmark indices are trading on a flat note ahead of the Reserve Bank of India's (RBI's) bi-monthly monetary policy meeting which is scheduled to start later in the day.

Among sectoral indices, the Nifty Auto index was up around 0.75 per cent higher led by gains in Apollo Tyres, Mahindra & Mahindra (M&M) and Eicher Motors.

In the broader market, S&P BSE MidCap index was trading 4 points or 0.03 per cent lower at 14,517, while S&P BSE SmallCap index was ruling at 13,774, down 13 points or 0.10 per cent.

BUZZING STOCKS

Shares of Bharti Airtel were trading around 3.5 per cent lower in the morning trade as Moody’s Investor Service downgraded it by one notch to Ba1 from Baa3, on concern that cash-flow generation at India’s second largest telecom operator will remain weak for several quarters to come.

Shares of Indraprastha Gas (IGL) were up 3 per cent to Rs 301 apiece on BSE in the early morning trade on the expectation of healthy performance during the quarter. The state-owned company is scheduled to announce its October-December 2018 quarter (Q3FY19) results on Wednesday, February 6, 2019. READ MORE

GLOBAL MARKETS
 
Asian stocks extended gains on Tuesday as overnight strength on Wall Street and the Federal Reserve's cautious turn underpinned appetite for riskier assets, while the dollar held firm on last week's upbeat US data.

MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.4 per cent and hovered near its four-month high marked on Friday. Japan's Nikkei average was flat on the day but at its highest level in seven weeks.

OIL MARKETS

In commodity markets, oil prices inched up, buoyed by expectations of tightening global supply amid US sanctions on Venezuela and production cuts led by OPEC.

US West Texas Intermediate (WTI) crude futures rose 0.5 per cent to $54.82 a barrel, after hitting a 2-1/2-month high of $55.75 in the previous session, while Brent crude futures were last up 0.4 per cent at $62.77. 

(with Reuters input)

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