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Tuesday, May 3, 2016

Equity Tips
Sensex, Nifty still under selling pressure; HDFC twins, ITC gain

The market has opened lower Wednesday. The Sensex is down 30.28 points or 0.1 percent at 25199.42, and the Nifty down 22.85 points or 0.3 percent at 7724.15. About 208 shares have advanced, 229 shares declined, and 36 shares are unchanged.

HDFC twins, NTPC and Hero MotoCorp are top gainers while Adani Ports, Hindalco, Tata Motors, Tata Steel and ICICI Bank are losers in the Sensex.

The Indian rupee slipped in the early trade. It has opened lower by 21 paise at 66.63 per dollar versus 66.42 Tuesday. The dollar rebounded, with Federal Reserve Bank of Atlanta chief Dennis Lockhart bringing the prospect of a June rate hike back into play. Yen holds around 106.

Asian markets traded on the back foot, after US stocks fell overnight amid renewed global growth concerns and as oil prices lost ground.

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