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Equity Tips

Nifty hovers around 8150; Sun Pharma falls further, Lupin weak

Indian equities rebounded in early trade Friday after correction in previous session. The broader markets also opened higher with moderate gains.

The 30-share BSE Sensex was up 65.17 points at 26584.24 and the 50-share NSE Nifty rose 24.60 points to 8178.20. The BSE Midcap and Smallcap indices gained 0.3 percent each.

Infosys, HDFC, Tata Motors, TCS, Maruti Suzuki and L&T advanced 0.2-1 percent.

Axis Bank gained further, up 0.5 percent after the bank has suspended 24 employees due to irregularities in exchanges and deposits of money.

Sun Pharma extended losses a bit, falling half a percent after losing over 4 percent in previous session. The Indian rupee has opened higher at 67.82 to the dollar compared with 67.83 in previous session.

Asian shares were higher as currency swings captured attention with the Chinese yuan at its lowest point against the dollar since May 2008 and Japan stocks up slightly on recent yen weakness. US stocks rose on Thursday, led by gains in bank shares, a day after the Federal Reserve raised interest rates for the second time in nearly a decade.

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