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Sensex, Nifty50 flat in trade; Amtek Auto slips 5%, Sun Pharma 2% 

• The S&P BSE Sensex started on a cautious note on Monday following muted trend seen in other Asian markets. The fall in the index was led by losses in ICICI Bank, L&T, Tata Motors, SBI, and Dr Reddy's Laboratories. 

• The Nifty50 pared its early morning losses and was now trading around its crucial psychological level of 7,950, supported by gains in consumer discretionary, autos, banks, consumer durable, and metal stocks. 

• The S&P BSE Midcap Index was up 0.38 per cent and BSE S&P Smallcap Index was trading 0.47 per cent higher. 

9:30 am GDP poll:

•  The second quarter FY16 gross domestic product (GDP) is expected to come in at around 7.5 percent compared to around 7 percent on a quarter-on-quarter (QoQ) basis. It compares to 8.4 percent same quarter last year. The range for the GDP figure is anywhere between 7.3 percent and 7.6 percent. The gross value added (GVA) is also expected to come in at around 7.5 percent versus 7.1 percent QoQ and the range is anywhere between 7.3 percent and 7.6 percent as well. In terms of sectors, agriculture is expected to see a slowdown on a QoQ basis possibly because of the lesser or deficit monsoon.

ASIAN MARKET UPDATE

• The rupee fell by 7 paise to 66.85 against the US dollar in early trade on Monday, tracking weakness across other Asian currency markets.
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• The domestic currency had closed at a two-year low of 66.76 to the dollar on Friday.
• Currency market investors are keenly awaiting the second quarter GDP numbers and October industrial output data scheduled for release later in the day. The Reserve Bank of India (RBI) policy review, slated for Tuesday, is also keenly awaited, even though the  .. 

NIFTY TREND: CONSOLIDATE

NIFTY SPOT LEVELS

 SUPP 1: 7885

SUPP 2: 7810

RES 1: 8010

RES 2: 8085

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