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Dec 08, 2017 10:04 AM IST | Source: Moneycontrol.com

Market Update: Maruti hits new record high, Future Consumer zooms 14%; DLF hits 52-week high

Bank Nifty was the outperforming sector led by Yes Bank and Axis Bank which added over 1 percent each while IndusInd Bank and ICICI Bank were the other top gainers.

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The Indian benchmark indices on Friday morning were trading on a positive note with the Nifty up 61 points or 0.6 percent while the Sensex added 198 points and was trading at 33151.

Bank Nifty was the outperforming sector led by Yes Bank and Axis Bank which added over 1 percent each while IndusInd Bank and ICICI Bank were the other top gainers.

Nifty midcap was also trading strong adding 0.76 percent led by Ashok Leyland, GMR Infra, Hindustan Zinc, JP Associates and SAIL

From the Nifty, the stocks that gained the most was Tata Motors which gained 1.6 percent and Vedanta added 1 percent followed by Wipro, IndusInd Bank and Adani Ports.

The most active stocks was Maruti Suzuki which was up 2 percent while Jet Airways tanked over 3 percent after decline in profit.

The top losers were Bharti Infratel, Asian Paints and NTPC.

From the BSE, the stocks that gained the most included Future Consumer which zoomed 14 percent while Sundaram Fasteners was up 5..7 percent. Religare, Videocon and JP Associates were the other top gainers.

Abbott India, Balkrishna Industries, DLF, Maruti Suzuki and TVS Motor were some of the stocks which hit new 52-week high on the NSE.

From the BSE, the stocks that hit fresh 52-week high were Maruti Suzuki, GSK Consumer, Britannia, TVS Motor, Finolex, Biocon and GAIL India were some of the stocks.

The market breadth was in favour of the advances on Friday morning with 1210 stocks advancing as against 379 declines. On the other hand, 1433 stocks advanced and 517 stocks declined on the BSE.

Global research firm Morgan Stanley has an overweight call on Future Consumer with a target of Rs 95 per share. It believes that the company may be India's fisth largest FMCG company by FY21 and sees revenue growth of 3.2x over FY17-20.

Ashwani Gujral of ashwanigujral.com has a buy on DLF with a stop loss of 235, target of Rs 242.
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