INDIAN EQUITY MARKET OUTLOOK - 7 Aug 2017

Sensex erases opening gains, Nifty holds 10,050; Midcap outperforms

Equity benchmarks opened moderately higher on Monday, with the Nifty inching towards 10,100 level following positive global cues.

The 30-share BSE Sensex was up 51.89 points at 32,377.30 and the 50-share NSE Nifty gained 14.10 points at 10,080.50.

Tata Steel gained 2 percent ahead of Q1 earnings. Tata Motors rose 1 percent despite weak JLR's UK sales.

Nifty Midcap was up 0.5 percent as about two shares advanced for every share falling on the BSE.

L&T Finance Holdings, Jaiprakash Associates, Sarda Energy, Apollo Tyres, Bhushan Steel, Wockhardt, Sintex, Eros International, Cadila Healthcare and Torrent Power rallied up to 10 percent.

Repco Home Finance, GSFC, HPCL and SPARC were down up to 5 percent.

Asia markets were mostly higher, with investors' risk sentiment likely improving from Friday's better-than-expected US jobs number as they await to hear Pyongyang's response to UN sanctions over the weekend.

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

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