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Nifty rebounds but fails to end above 9,800; broader markets shine, up 2%

Catch all that happened in the market here

SI Reporter  |  New Delhi 

Analyst View   Anand James, Chief Market Strategist, Geojit Financial Services said: Value buying was visible after recent falls rendered prices cheaper, and the positive Asian markets gave further encouragement. But we believe, markets may be a bit circumspect about any more abrupt SEBI measures that may cull liquidity. With WPI breaking downtrend, RBI’s minutes on Wednesday could give us better insight on rate cut expectation.   Earnings Impact Avanti Feeds soared 20% to Rs 1,974, also its record high on BSE in intra-day trade, after the company reported stellar Q1 performance. The company’s consolidated net profit soared 204% year-on-year (Y-o-Y) to Rs 149 crore for the quarter ended June 30, 2017 (Q1FY18). It had reported a net profit of Rs 49.03 crore in the corresponding quarter last year. Shares of drug major Cipla ended 5% higher after the company reported 23.63% rise in consolidated net profit o Rs424.92 cror for the first quarter ended 30 June.   The company had posted a net profit of Rs343.70 crore for the corresponding period of the previous fiscal, Cipla said in a BSE filing.\ Nifty Realty was the biggest sectoral gainers, up ver 5% for the day led by DLF, HDIL, Unitech and Phoenix. DLF surged over 17% after the company said on Saturday that it was in the final stages of talks for a transaction involving its rental unit arm.   DLF had previously said it was in talks with Singapore sovereign wealth fund GIC to sell a 40% stake in its property rental unit.  Broader Markets Broader markets outperformed the benchmark indices with BSE Midcap and BSE smallcap up 2% each Global Check World stocks rose on Monday, attempting to recover after fears of a US-North Korea nuclear standoff drove them to the biggest weekly losses of 2017, while the dollar too rose off four-month lows it had hit against the yen.   European shares bounced after falling nearly 3% last week, with the pan-European STOXX 600 up 0.7% following on from a 0.9% jump in MSCI's index of Asia-Pacific shares outside Japan.   Those gains were led by bounces in Australia, Hong Kong and South Korea while MSCI's world index rose 0.2%.

Benchmark indices rebounded, to end over 0.5% higher on Monday, snapping a five-day losing run after weak US inflation data dampened prospects of a rate hike this year, lifting sentiment across global markets. Back home, investors reacted to July Wholesale Price Index (WPI)-based inflation data, which surged to 1.8% from 0.9% reported in June. Consumer Price Index (CPI)-based inflation data will be released later in the day.   Meanwhile, figures for the Index of Industrial Production (IIP), released by the government on Friday, showed national factory output ...

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First Published: Mon, August 14 2017. 15:31 IST
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Nifty rebounds but fails to end above 9,800; broader markets shine, up 2%

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Nifty rebounds but fails to end above 9,800; broader markets shine, up 2%

Catch all that happened in the market here

Benchmark indices rebounded, to end over 0.5% higher on Monday, snapping a five-day losing run after weak US inflation data dampened prospects of a rate hike this year, lifting sentiment across global markets. Back home, investors reacted to July Wholesale Price Index (WPI)-based inflation data, which surged to 1.8% from 0.9% reported in June. Consumer Price Index (CPI)-based inflation data will be released later in the day.   Meanwhile, figures for the Index of Industrial Production (IIP), released by the government on Friday, showed national factory output ...

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