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Tuesday, December 20, 2016

Equity Tips

Nifty reclaims 8100, Sensex volatile; HDFC, Infosys support

Equity benchmarks rebounded in opening trade with the Nifty reclaiming 8100 level, supported by positive global cues. Banking & financials, auto, select technology and infra stocks gained.

The 30-share BSE Sensex was up 82.73 points at 26390.71 and the 50-share NSE Nifty rose 25.35 points to 8107.75.

HDFC, Infosys, ICICI Bank, L&T, Sun Pharma and SBI were leading contributors to Sensex's gains while TCS, ITC, HDFC Bank and HUL were under pressure.

The Indian rupee recovered in early trade today after hitting 68 against the US dollar in previous session. The dollar yesterday traded near its 14-year high on hopes of better US growth going ahead and a fastest pace of rate increases in 2017.

It has opened higher by 10 paise at 67.93 per dollar versus 68.03 Tuesday.

The trading range for the spot USD-INR is seen between 67.70-68.20/dollar, according to him.

Dollar held strong above 103 mark after Federal Reserve Chair Janet Yellen's comments about the labor market reinforced the notion of a faster pace of US interest rate hikes next year than had been expected.

Asian markets were higher today, after the Dow hitting a new record close overnight just shy of the psychological 20,000 level.

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