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Tuesday, November 22, 2016

Equity Tips

Sensex, Nifty rangebound; Cap Goods, Metals indices up

Equity benchmarks wiped out early gains with the Nifty breaking 8000 level on profit booking. Banking & financials, auto and FMCG stocks were under pressure while healthcare, technology and metals stocks gained.

Boosted by strong global cues, the market opened firm Wednesday. The Sensex is up 152.47 points or 0.6 percent at 26113.25, and the Nifty up 48.90 points or 0.6 percent at 8051.20. About 423 shares have advanced, 79 shares declined, and 20 shares are unchanged.

L&T, GAIL, Wipro, Adani Ports and Cipla are gainers while Dr Reddy's Labs and Bajaj Auto are losers in the Sensex. Wockhardt is down around 3 percent post US FDA warning letter.

The Indian rupee has touched 8-month low in early trade. It has opened at 68.36 against the US dollar, down 11 paise compared with previous settlement at 68.25 a dollar.

The dollar resumed its uptrend helped by a surge in US existing home sales last month that further cemented expectations not only of a Federal Reserve interest rate hike in December, but also of further tightening next year.

Among global markets, Asian stocks crept to one-week highs as investors tried to share in the exuberance of Wall Street, where the three main indices seized record peaks for a second straight session.

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