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LIVE: Nifty above 9,900; RIL's market-cap crosses Rs 5-lakh crore mark

17 July, 2017 8:03 AM
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LIVE: Nifty above 9,900; RIL's market-cap crosses Rs 5-lakh crore mark

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3:06 PM In the broader market, BSE Midcap was up 0.1%, while BSE Smallcap continued trading flat.

2:42 PM All sectoral indices but Nifty FMCG (down 1%) and Nifty PSU Bank (down 0.4%) are trading in green.

1:55 PM Jubilant Foodworks surged over 4% to Rs 1,215 after the company reported over 25% jump in its standalone net profit in the June quarter of FY18.

1:33 PMMarket Check: At 1:30 pm, S&P BSE Sensex was trading at 32,075, up 55 points while the broader NIfty50 index was ruling at 9,909, up 22 points.

In broader markets, both BSEmidcap nad BSE small cap indices were very little changed.

12:20 PM Nifty IT was the top sectoral gainer, lifted by index heavyweights Wipro (up 3.1%) and Infosys (up 1.3%)

12:16 PMMarkets pare some morning gains: At 12:16 pm, the S&P BSE Sensex was trading at 32,070, up 40 points while the broader Nifty50 was ruling at 9,907, up 20 points.

12:02 PM GVK Power & Infrastructure jumped 6.88%, extending Friday's gains after the company completed the sale of residual 10% stake in Bangalore International Airport. The stock has rallied over 10% post the stake sale.

11:10 AM All sectoral indices except Nifty FMCG (down 1.5%) were trading in green. Niftyy IT and Nifty Metals were the top sectoral gainers on the index.

9:50 AM Indraprastha Gas hits fresh 52-week high, up over 3% after Haryana government permited the company to lay, build and operate City Gas Distribution (CGD) network in Gurugram.

9:37 AM Shares of Wipro rose over 3% in the early trade on Monday after the third largest IT services firm Wipro on Friday said its board will consider a proposal for buyback of equity shares on July 20.

9:25 AM Karnataka Bank fell 2% even after the lender reported a 10% growth in net profit in April-June quarter compared to the same period last fiscal year.

9:24 AM Geojit Financial Service says: 10k is near, and Nifty is yet to show much giddiness. It is not necessary that a psychological level should turn the trend, but some deal of volatility needs to be priced in. Favoured view expects the trend to continue aiming 10,300, but a pull back below 9,740 could change all that.

9:15 AM Benchmark indices opened marginally higher with Nifty50 above 9,900 tracking positive Asian peers after Wall Street ended at record high on Friday.

Sentiment was also lifted as investors awaitied the start of the Monsoon session of Parliament for more reforms after a successfull roll-out of GST.

9:13 AM KOTAK SECURITIES ON CYIENT: Positives are more or less priced in and the stock is fairly valued at ~11.9x FY19E EPS. We maintain REDUCE with revised target price of Rs 521 (Rs 526 earlier)

9:07 AM 17 companies will report their results for the quarter ended June on Monday which include names like ACC, Hindustan Media Ventures, Jubilant FoodWorks, Prakash Industries, Sharda Motors Industries, Linde India Ltd among others.

BUY ACC for an upside target of Rs 1,850 keeping a stop loss of Rs 1,680.

Also read: RCom Shares Slump After Company Reports September-Quarter Loss

Source: business-standard.com

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