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Wednesday, December 21, 2016

Equity Tips

Nifty breaks 8000, Sensex sheds 190 pts; HDFC twins, Infosys dip

Equity benchmarks fell further in early trade with the Nifty breaking 8050 level, weighed by banks and weak Asian cues. The 30-share BSE Sensex was down 57.73 points at 26184.65 and the 50-share NSE Nifty declined 17.10 points to 8044.20.

Sun Pharma gained more than 1 percent after the company acquired oncology product Odomzo from Novartis for global markets. It will make upfront payment of USD 175 million and additional milestone payments for the product.

In addition, its Sun Pharma Advanced Research Company has received complete response letter from US FDA for Xelpros that indicates resolution of deficiency identified in Halol inspection.

The Indian rupee continued its recovery on Thursday for the second consecutive session following correction in dollar. It has opened higher by 8 paise at 67.83 per dollar against previous close of 67.91.

The rupee would come under renewed pressure in the new year based on macro performance in the wake of demonetisation,

The dollar index retreated after hitting its highest since December 2002. Meanwhile the Swedish Crown gained 1.4 percent against the dollar after Sweden's Central Bank narrowly voted to add to its bond-buying program.

Asian markets were mixed today amid thinner pre-holiday trade, after the Dow failed to reach the 20,000 mark overnight. Japanese benchmark Nikkei 225 fell 0.2 percent.

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