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Tuesday, June 14, 2016

Equity Tips
Sensex, Nifty, Midcap hold early gains; L&T leads, ICICI weak

Equity benchmarks as well as broader markets remained positive on Asian cues and short covering after 4-day fall. Infra, telecom, auto, FMCG and select banking & financials gained while ICICI Bank, HDFC, TCS and Dr Reddy's Labs fell.

The Sensex rose 101.75 points to 26497.46 and the Nifty climbed 28.75 points to 8137.60. The market breadth was also positive as about three shares advanced for every share falling on BSE.

L&T, State Bank of India, Bharti Airtel, Hero Motocorp and NTPC gained 1-2.5 percent.

The Indian rupee opened flat at 67.25 per dollar against previous close of 67.26.The yuan slipped to its weakest level since early February in offshore trading after MSCI Inc. denied local equities entry into their indexes. The pound was near a two-month low on Brexit concerns.

"Rupee can remain under pressure due to global events. If Indian equity market trades positively on the back of GST news then the rupee may get some support near 67.50/dollar levels."

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