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Thursday, May 25, 2017

Equity Tips

Nifty hits record high, crosses earlier level of 9532, Sensex higher by 0.2%

A day after the record high closing on the Street, equity benchmarks on Friday opened flat, with the Nifty holding on to 9500-mark.t

The Sensex was up 15.98 points at 30766.01, while the Nifty was down 6.85 points at 9502.90. The market breadth was healthy as 513 shares advanced against a decline of 262 shares, while 36 shares were unchanged.

Asian Paints and Dr Reddy’s Laboratories were the top gainers on both indices, while Cipla, Sun Pharma and Indian Oil Corporation lost the most.

Midcaps were trading flat after a bullish run on Thursday, while the banking stocks were a drag.

The Indian rupee opened with marginal gain of 5 paise at 64.56 per dollar on Friday versus previous close 64.61.

“The USD-INR currency pair has been trading in the 64.50-65 range, with the cross-border tensions limiting the gains. Expect the pair to trade in the 64.40-64.90 range today.”

The dollar index fell against a basket of major currencies following Wednesday's Fed minutes dialled down some expectations of the central bank hiking interest rates soon.

Stocks in Asia were mixed at the open on Friday, after major oil producers agreed to extend output cuts for an additional nine months at an OPEC meeting in Vienna yesterday.

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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