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Wednesday, November 16, 2016

Equity Tips

Nifty breaks 8100 amid consolidation; Bajaj Auto, Hero Moto slip

The market has once again opened flat. The Sensex is down 11.96 points at 26286.73 and the Nifty is down 8.15 points at 8103.45. About 244 shares have advanced, 124 shares declined, and 30 shares are unchanged.

BHEL, GAIL, Adani Ports, Tata Motors and HUL are top gainers while Dr Reddy's Labs, Sun Pharma, Coal India, Cipla and ICICI Bank are losers in the Sensex.

The Indian rupee opened higher by 5 paise at 67.89 per dollar versus 67.94 Wednesday.

"Rupee has depreciated against the dollar in-line with the yen and other EM currencies. Expected to trade in a range of 67.80-68.20/dollar for the day."

The dollar climbed to a near 14-year high against a basket of currencies , even as analysts cautioned the greenback is vulnerable to a letdown from its surge tied to bets on pro-growth policies under US president-elect Donald Trump.

The dollar edged away from a 13-year peak, following an easing of the week-long surge in Treasury yields that was fuelled by hopes for the Trump administration's economic policies, and Asian stocks slipped on Wall Street's overnight dip.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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