Dalal Street's Top Stories at Midday.12.00 PM, 17th July 2019:(Nifty 11696, Up 33 points):Benchmark indices have extended gains and are trading near day’s high. Firmness in banks stocks offset losses in auto shares.

• Technically, hurdles for Nifty at 11797-11839 zone while downside nicely supported at 11471 mark.

• Market to remain choppy in the near term on the backdrop of weak domestic sentiment given the on-going economic slowdown.

• The monsoon has shown considerable improvement over the past 1-2 weeks, which is a positive for Indian economy. However, the progress of monsoon would be actively tracked by traders and investors.

• Further, earnings announcement by companies is likely to lead to stock specific volatility.

• On the global front, ongoing geopolitical tensions between US-Iran could have a bearing on Indian market as crude prices have inched higher in the recent past and is likely to keep the market participants on edge.

• Asian stocks were trading lower following overnight developments on the US-China trade front.

• US stocks closed lower after President Donald Trump said an agreement with China on trade tariffs had a long way to go adding that America could place tariffs on an additional $325 billion worth of Chinese goods. Trump made his comments during a cabinet meeting at the White House.

• Barring Pharma, Metal and Auto, rest all sectoral indices are in green, with maximum gains visible in Banks and FMCG sector.

• The market breadth, indicating the overall health of the market is Positive.

• NSE Advances: 30. NSE declines: 20.

• The NSE Mid-Cap index is Up 0.09% at 4,743. The NSE Small-Cap index is Up 0.23% at 6,038.

• INDIA VIX index representing volatility is Up 11.48: (-0.67%)

• On the Positive side: UPL at 660.10 (+2.84%) ,KOTAK BANK at 1541.30 (+2.65%), and ZEEL at 353.30(+2.04%), are in green,

• On the flip side: GAIL at 143.80 (-2.41%), YES BANK at 101.30 (-2.46%) and ONGC at 150.45 (-1.18%).

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