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Monday, April 10, 2017

Equity Tips

Sensex gains 100 pts; Nifty above 9200; Reliance rebounds

Equity benchmarks started off day on a mildly positive note, with the Nifty inching towards 9200 level despite weak global cues, backed by Infosys and banks. However, Reliance Industries and FMCG stocks capped gains.

The 30-share BSE Sensex was up 31.01 points at 29,606.75 and the 50-share NSE Nifty gained 5.15 points at 9,186.60.

Infosys was the leading gainer among largecaps, up over a percent ahead of Q4 earnings due on Thursday. A CNBC-TV18 poll expects a 3.7 percent fall in profit and 0.2 percent decline in dollar revenue QoQ.

Vedanta fell 6 percent as the stock adjusted for dividend.

The Indian rupee opened lower by 9 paise at 64.65 per dollar today against previous close of 64.56.

He expects the USD-INR pair to trade in a range of 64.45-64.65/dollar.

The dollar edged lower as concerns over tensions with North Korea and Syria weighed on US treasury yields and offset expectations of US interest rate hikes.

Asian equities were under pressure, following a lower close on Wall Street as geopolitical tensions continued to weigh.

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