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Equity Tips

Nifty holds 9600 amid choppy trade; investors await auto sales data

Equity benchmarks started off June month on negative note after fourth quarter GDP growth slowed to 6.1 percent and eight core sector growth slipped to 2.5 percent in April.

The 30-share BSE Sensex was down 69.90 points at 31,075.90 and the 50-share NSE Nifty fell 17.70 points to 9,603.55.

Infosys was the top loser, down 1.4 percent followed by HDFC Bank, HDFC, ICICI Bank, Asian Paints, ONGC and Reliance Industries.

Sun Pharma rebounded over a percent followed by ITC, M&M, Tata Motors, Hero Motocorp and L&T.

The Indian rupee opened at 64.48 to the dollar, up 3 basis points from its previous close of 64.51.

Kotak Mahindra Bank said selling of dollars by exporters and support by the Reserve Bank of India are likely to keep the rupee rangebound.

The USD-INR is expected to trade in the range of 64.35-64.70 to the dollar for the day, according to him.

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