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Sunday, May 14, 2017

Equity Tips

Sensex opens 100 pts higher, Nifty above 9400; ONGC, Tata Steel lead

Equity benchmarks stated off the week on a positive note, with the Sensex rising over 100 pts despite mixed Asian cues.

The 30-share BSE Sensex was up 110.51 points at 30,298.66 and the 50-share NSE Nifty rose 28.70 points to 9,429.60. About 670 shares advanced against 222 declining shares on the BSE.

ICICI Bank, ONGC, Tata Steel, HDFC, Axis Bank, Hindalco and Dr Reddy's Labs were early gainers while Cipla, Infosys, Hero Motocorp, Wipro, Bharti Airtel, BPCL and Bharti Infratel were losers.

The Indian rupee has opened higher by 18 paise at 64.12 per dollar against Friday's closing of 64.30.

Pramit Brahmbhatt of Veracity feels weak economic data released on last Friday as well as positive cues from domestic equity market may trigger a fall in the dollar.

According to him, the rupee may breach 64.20/dollar levels and the spot USD-INR pair is likely to trade in the range of 64-64.40/dollar.

The dollar index is slightly lower against a basket of major currencies after US economic data came in shy of expectations and another missile test by North Korea over the weekend underpinned the perceived safe-haven yen.

Asian markets were mixed despite concerns over trade protectionism during the G7 meeting in Italy and North Korea's latest missile launch at the weekend.

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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