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Tuesday, February 28, 2017

Equity Tips

Sensex rebounds 140 pts, Nifty above 8900 post Q3 GDP data

Equity benchmarks opened higher after weakness in previous session, following better-than-expected Q3 GDP data and positive Asian cues.

The 30-share BSE Sensex was up 139.37 points at 28882.69 and the 50-share NSE Nifty gained 37.85 points at 8917.45. About 719 shares advanced against 164 declining shares on the BSE.

BHEL, Hero Motocorp, ONGC, Axis Bank, Cipla, Bharti Infratel and Power Grid Corp were early gainers while Tata Motors, Bharti Airtel, Tech Mahindra, Idea Cellular, UltraTech Cement and M&M were under pressure.

The Indian rupee has opened lower by 9 paise at 66.78 per dollar on Wednesday versus previous close of 66.69.

USD-INR pair continued to trade strong in the 66.50-67/dollar range on the back of global positive risk sentiment, resumption of portfolio flows, and strong intervention.

He expects the pair to continue trading in this range with RBI expected to cap gains.

The dollar weakened slightly as investors awaited President Donald Trump's speech to congress for fresh indications of his economic plans and as portfolios were rebalanced for month-end.

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