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Equity Tips

Sensex, Nifty open at fresh record high; Bharti, Tata Steel top gainers

Equity benchmarks opened at fresh record high on Tuesday, continuing upside despite mixed Asian cues.

The 30-share BSE Sensex was up 63.33 points at 30,385.45 and the 50-share NSE Nifty rose 12.55 points to 9,457.95. About 643 shares advanced against 258 declining shares on the BSE.

Bharti Airtel was the biggest gainer among largecaps, up nearly 3 percent followed by Tata Steel, TCS, Dr Reddy's Labs, IOC, ACC and ICICI Bank.

Asian Paints, HDFC Bank, BHEL, HDFC, Adani Ports, Kotak Mahindra Bank, Cipla and Bank of Baroda were early losers.

The Indian rupee was flat at 64.06 per dollar in opening against previous day's close of 64.06.

Rupee has been supported by global cues as well as firm flows from FIIs and FDI. Today, he expects the USD-INR pair to trade in a range of 63.95-64.20/dollar range.

Dollar weakened against a major basket of currencies after a weaker than expected US economic data dampened the outlook for the pace of further tightening by the Federal Reserve this year.

Asian markets were mixed, following the bounce in oil prices after the energy ministers of Russia and Saudi Arabia announced output cuts should be extended till March 2018 and as investors largely shrugged off US political news on President Donald Trump.

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