Equity indices Nifty & Sensex have been trading range-bound in the last few days, while geo-political uncertainties pose discontent in the investor community.

In an interview with CNBC-TV18, Varun Goel of Motilal Oswal AMC said that there is some nervousness due to the condition in Europe and outcome of the US Presidential election. These factors will play out time and again, but the important thing is to focus on domestic earnings recovery, he said.

The market is rising gradually as the Sensex is up 75.27 points or 0.3 % at 28298.97 and the Nifty is up 32.05 points or 0.37% at 8738.45. Around 1579 shares have advanced, 893 shares declined, and 197 shares are unchanged.

SBI, Tata Motors, BHEL, Tata Steel and Adani Ports are top gainers while Reliance, HUL, HDFC Bank, Cipla and Sun Pharma are major losers in the Sensex.

European stocks were higher with investor sentiment buoyed by higher oil prices and a rally in the banking sector. The pan-European Euro Stoxx 600 index was higher with all sectors and major bourses in positive territory.
Deutsche Bank shares rose 3 percent, bouncing back after several sessions of heavy selling.

This comes after it was asked to pay a settlement by the US Department of Justice and speculation that it was seeking help from the German

The Nifty Midcap index might be trading at an all-time high level, but stock-specific opportunities still exist in the market and many of these stocks can offer up to 30 % upside over the next 12 months, UBS said in a note authored by Gautam Chhaochharia, Head of India Research.

Fear of a steep correction lingers around the midcaps. The key is to pick quality stocks either at current level or on dips. UBS’ top five midcap picks include MCX (31 per cent upside), PVR (16 per cent upside), Info Edge (20 per cent upside), Voltas (19 per cent upside) and Dish TV (28 per cent upside).

UBS has recommended these stocks from across sectors for a minimum investment horizon of 12 months.
Benchmark indices remained marginally higher. The 30-share BSE Sensex was up 79.60 points at 28303.30 and the 50-share NSE Nifty up 29.45 points at 8735.85.

Benchmark indices continue to consolidate in noon trade ahead of expiry of September derivative contracts on Thursday while the broader markets consistently outperformed.

The 30-share BSE Sensex gained 31.43 points at 28255.13 and the 50-share NSE Nifty was up 17.35 points at 8723.75 while the BSE Midcap and Smallcap indices climbed over 0.7 percent.

The market breadth remained positive as about 1502 shares advanced against 815 declining shares on the BSE.

Market is expected to move sideways till Thursday, with Nifty hovering around 8680-8750 points amidst volatility, Mitesh Thacker of miteshthacker.com said. Tata Motors and SBI were top gainers on the Sensex, up over 1.5 % whereas Reliance Industries fell nearly 2 %.

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