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Thursday, September 22, 2016

Equity Tips

Sensex, Nifty consolidate; L&T Technology lists at Rs 920, up 7%

Equity benchmarks continued to consolidate with the Nifty hovering in 20 points range while the broader markets outperformed. The BSE Midcap and Smallcap indices gained 0.4 percent each.

L&T Technology Services, the subsidiary of engineering & construction giant Larsen and Toubro, has made its stock debut at Rs 920 per share, up 7 percent over its issue price of Rs 860.

The market has opened flat. The Sensex is down 21.82 points at 28751.31, and the Nifty down 11.15 points at 8856.30. About 763 shares have advanced, 466 shares declined, and 88 shares are unchanged.

L&T, Reliance, M&M, Dr Reddy's and Sun Pharma are top gainers while Axis Bank, Infosys, Bharti, Tata Motors and Hero MotoCorp are losers in the Sensex.

The Indian rupee opened lower by 30 paise at 66.96 per dollar on Friday against previous close of 66.66.

"US Fed announcement of no hike in funds rates, followed by Janet Yellen's statement had a negative impact on the dollar Index."

The dollar fell to its lowest in a week against the euro but recovered some ground against the yen after Fed hinted at a rise in interest rates this year with cuts in the longer term outlook.

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1 comment:

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