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Sunday, June 5, 2016

Equity Tips

Sensex, Nifty consolidate after 2-week rally; Bharti plunges

The market started consolidation today after rallying 6 percent in previous two weeks and ahead of RBI monetary policy. The Sensex fell 16.75 points to 26826.28 and the Nifty declined 3.50 points to 8217.30.

Lupin, GAIL, Cipla, Sun Pharma and M&M are top gainers while Adani Ports, Hero MotoCorp, Tata Steel, Asian Paints and Maruti are losers in the Sensex.

The Indian rupee gained in early trade, opening higher by 30 paise at 66.95 per dollar versus 67.25 Friday. Dollar sees mild gains after posting its largest one-day percentage fall against a basket of major currencies since February on Friday, meanwhile the yen surges.

"The rupee is expected to trade stronger on back of weak data from US, thus a weakening USD.The trading range for USD-INR pair will be 66.80 - 67.50/dollar for the day."

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