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Monday, February 27, 2017

Equity Tips

Nifty hovers around 8900 ahead of Q3 GDP; L&T gains 1%

Benchmark indices started off the day on a flat note Tuesday as investors awaited third quarter GDP data due later today.

The 30-share BSE Sensex was up 1.32 points at 28814.20 and the 50-share NSE Nifty rose 0.05 points to 8896.75.

Cipla, ONGC, Tata Motors, GAIL, NTPC, Tech Mahindra, Bharti Infratel, Aurobindo Pharma and Grasim were early gainers while ITC, Bajaj Auto, Infosys, Sun Pharma, Reliance Industries, BPCL and Hindalco were losers.

The Indian rupee opened marginally lower at 66.74 per dollar today against previous close of 66.70.

US pending home sales data for January was disappointing. The markets are also awaiting details of President Trump's tax related declarations. As a result, the dollar index has been below the 101 mark.

The USD-INR pair is expected to trade within a range of 66.60-66.80/dollar,

The dollar was slightly weaker against a basket of currencies as investors worried that a speech by US President Donald Trump would not provide many details on his economic agenda.

Asia markets were mostly higher todasy, tracking US gains, as investors await a key speech from President Donald Trump.

US stocks ended slightly higher on Monday and the Dow closed at a record high for a 12th straight session, as President Donald Trump said he would make a "big" infrastructure statement on Tuesday.

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