Nifty, Sensex open higher; Infy top Nifty gainer;

Indian Indices:

Nifty opened at 9,907 level, up by 50 points while Sensex opened at 160 level, up by 31,756 points. Infosys is top Nifty gainer trading at Rs 947.9 per share, up by 3.92%.Nifty opened at 9,907 level, up by 50 points while Sensex opened at 160 level, up by 31,756 points.

Nifty50 has resistance placed around the level of 9,900 and the next resistance is placed around the level of 9,930. On the way downside, the level of 9,830 is an immediate support level and the next support is seen around 9,770.

Equity benchmarks started off the week on a strong note, with the Nifty reclaiming 9,900 level, largely driven by Infosys. Nifty Midcap gained 0.4 percent as about four shares advanced for every share falling on the exchange.

Infosys surged 4 percent as CLSA upgraded the stock to buy from underperform and raised target price to Rs 1,070 from Rs 940 after co-founder Nandan Nilekani joined the company again as non-executive chairman. CEO choices & strategy should improve, the research house said.

Kotak Mahindra Bank, Eicher Motors, Reliance Industries, Hindalco Industries, Sun Pharma and ONGC were other gainers. Dr Reddy's Labs, Hero MotoCorp, Asian Paints and ITC were under pressure. DLF, Adani Enterprises, Adani Power, Future Enterprises, Suzlon Energy, Ansal Housing, Nestle India, Bajaj Finserv and Bajaj Finance rallied up to 6 percent whereas PC Jeweller, Titan Company, Strides, Wockhardt and Cadila Healthcare were under pressure.

The 30-share BSE Sensex was up 154.47 points at 31,750.53 and the 50-share NSE Nifty gained 40.15 points at 9,897.20. There were 922 advances, 409 declines and 492 unchanged stocks on NSE reflecting positive sentiments floating in the market.

Global Market:

The US stocks displayed lacklustre performance on Friday, with Dow and the S&P ending the session just above neutral line with positive bias, while the tech-heavy Nasdaq pulled back into the red terrain. The Dow Jones Industrial Average inched up 30 points to finish at 21,814. The S&P 500 gained 4 points to close at 2,443, while the Nasdaq Composite Index shed 6 points to finish at 6,266.

Majority of the Asian markets were trading in positive territory in early trade on Monday. Hong Kong’s Hang Seng has surged 186 points and China’s Shanghai Composite has gained 22 points, while Japan’s Nikkei 225 has slipped 28 points.

Major Headlines of the day:

Future Enterprises approves the OFS of shares of its subsidiary co, Future Supply Chain Solutions and participation of the company up to 5 percent of paid up capital of FSCSL.

Meghmani Organics has incorporated a wholly owned subsidiary namely, Meghmani Agrochemicals on August 23, 2017

Lumax Auto has signed a JV Agreement with Francisco Albero S.A.U., Spain to manufacture and supply Oxygen Censors to the Indian automotive industry

REC enters into MOU Maharashtra State Power Generation Co. for extending financial assistance to the tune of 13,000 crore

Trend in FII flows: The FIIs were net buyers of Rs -696.93 the cash segment on Wednesday while the DIIs were net sellers of Rs 1044.38 as per the provisional figures.

Securities in Ban For Trade Date 28-AUG-2017:

1.DLF

2.GMRINFRA

3.HDIL

4.IBREALEST

5.JPASSOCIAT

6.JSWENERGY

7.JUSTDIAL

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.

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