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Monday, January 23, 2017

Equity Tips

Nifty above 8400, Sensex firm; HCL Tech falls 2%, Bharti down

The market has opened flat with the Nifty above 8400. The 50-share is up 23.65 points or 0.3 percent at 8415.15 while the Sensex is up 73.91 points or 0.3 percent at 27191.25.

GAIL, Adani Ports, HDFC Bank, L&T and SBI are top gainers while Bharti, HUL, Infosys, Asian Painrs and Wipro are losers in the Sensex.

HCL Technologies is down 2 percent after it posted Q3 results. While retaining FY17 constant currency dollar revenue growth guidance at 12-14 percent, HCL Technologies said its third quarter profit grew by 2.3 percent sequentially to Rs 2,062 crore.

Rupee revenue during the quarter increased 2.6 percent quarter-on-quarter to Rs 11,814 crore and dollar revenue rose 1.3 percent to USD 1,745 million. The IT services provider expects its full year dollar revenue guidance at 10-12 percent while maintaining EBIT margin guidance of 19.5-20.5 percent.

The Indian rupee has opened higher by 12 paise at 68.08 per dollar on Tuesday against previous day's closing of 68.20 per dollar.

HDFC Bank feels the rupee is likely to remain rangebound within the range of Rs 68-68.30 against the US dollar.

Asian markets were mixed in early trade, taking cues from a weak handover from Wall Street as US President Donald Trump formally withdrew the nation from the Trans-Pacific Partnership (TPP) trade deal. The Nikkei was down three tenth of a percent in early trade, extending the previous session's declines of more than 1 percent, while the Korean markets were trading flat with a negative bias.

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