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Indian Indices:
After beginning the September series on a flat note, sharp buying in pharmaceuticals, IT and metals, among others, has helped the Nifty race past 11,700 on this morning. The Sensex is up over 100 points. Banks are currently trading flat, while automobiles are up around a percent on Nifty Auto index.
In the broader markets, Nifty Midcap is up over half a percent as well. Among shares, Idea Cellular is up 2 percent after NCLT approved its merger with Vodafone India, while Jet Airways is down 1 percent after MCA probes the airline for siphoning off of funds.
The Sensex is up 107.32 points or 0.28% at 38797.42, while the Nifty rose 38.90 points or 0.33% at 11715.70. The market breadth is positive as 1,257 shares advanced, against a decline of 564 shares, while 108 shares were unchanged.
Global Market:
• Asian stocks bruised by Trump's trade war threats: MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.2 percent in early trade while Japan's Nikkei dropped 0.8 percent.
• Wall Street extends rally, tech leads S&P, Nasdaq to record highs: The Dow Jones Industrial Average rose 60.55 points, or 0.23 percent, to 26,124.57, the S&P 500 gained 16.52 points, or 0.57 percent, to 2,914.04 and the Nasdaq Composite added 79.65 points, or 0.99 percent, to 8,109.69.
Major Headlines of the day:
• Shares of Jet Airways cut some losses from its intraday fall of over 2.5 percent on Friday morning as investors turned wary of a probe into the airline’s financials.
• Due to some profit booking in the last couple of days, the Nifty concluded the August series with a gain of 4.56 percent over the July expiry's close.
Trend in FII flows:- The FIIs were Net Value of Rs 958.01 On NSE, BSE and MSEI while the DIIs were Net Value of -1598.67 per the provisional figures.
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