EquityTips

EquityTips
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Sunday, May 22, 2016

Equity Tips

Equity benchmarks erased early gains due to further selling in technology, infra and pharma stocks. FMCG and select private banks continued to support.

The 30-share BSE Sensex rose 31.18 points to 25333.08 and the 50-share NSE Nifty advanced 14.10 points to 7763.80. The market breadth was positive as about 1012 shares advanced against 756 declining shares on Bombay Stock Exchange.

Infosys, HDFC and Sun Pharma fell more than 1 percent while ITC continued to be top gainer with 4 percent rally. ICICI Bank, Tata Motors, HUL, Bharti Airtel and Adani Ports gained over a percent.

The Indian rupee gained in the early trade today. It has opened higher by 14 paise at 67.30 per dollar against 67.44 Friday.

"The USD-INR pair is likely to weaken further on concerns over P-notes and Fed rate hike."

"The rupee may weaken towards 67.80/dollar. However, on the upside, 67/dollar may act as a strong resistance for the Indian rupee,"

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1 comment:

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