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Friday, May 12, 2017

Equity Tips
Nifty breaks 9400, Sensex lower on profit booking; Asian Paints loses

Equity benchmarks started off last day of the week on flat note with a positive bias as investors awaited more corporate earnings after digesting good monsoon forecast.

The 30-share BSE Sensex was up 45.86 points at 30,296.84 and the 50-share NSE Nifty rose 14.30 points to 9,436.70.

Infosys, SBI, Tata Motors, HUL, M&M, Bank of Baroda and Kotak Mahindra Bank were early gainers while TCS, Bharti Airtel, ICICI Bank, HDFC Bank, Axis Bank, Bharti Infratel and Indiabulls Housing were losers.

The Indian rupee opened higher by 5 paise at 64.33 per dollar versus previous close of 64.38.

Ashutosh Raina of HDFC Bank expects the rupee to continue trading in 64.20-64.70/dollar range, with a weakening bias.

The dollar fell while treasury yields reversed earlier declines, as political uncertainty in the United States sent investors in search of safer investments like gold and the Japanese yen. The dollar fell half a percent versus the yen.

Markets in Asia were mostly weaker, with the Japan's down 0.7 percent, following weak earnings from US retailer Macy's and ahead of the G7 finance meeting in Italy.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647
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