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Monday, May 8, 2017

Equity Tips

Sensex opens in the green, Nifty above 9300; ACC, Ambuja Cements gain

Benchmark indices opened in the green, tracking positive global cues, with the Street seeing a quarter percent uptick.

The 30-share Sensex was up 79.41 points at 29938.21, while the Nifty was up 25.65 points at 9310.95. The market breadth was healthy as 733 shares advanced against a decline of 255 shares, while 40 shares were unchanged.

ICICI Bank, Asian Paints and cement stocks Ambuja Cements and ACC gained the most on both indices, while HDFC and Wipro lost the most.

Ambuja Cements and ACC gained between 5 and 7.5 percent on the back of merger talks between the companies, while Eicher Motors gained over 2.5 percent post its Q4 results. Avenue Supermarts, the operator of D-Mart, witnessed some profit-taking.

The Indian rupee gained in the early trade on Monday. It has opened higher by 10 paise at 64.27 per dollar versus Friday's close 64.37.

"Consolidation near 64.20/USD, resulted into positive divergence on daily chart for USD. A technical pull-back may get extended till 64.50."

Asian shares traded mostly higher on Monday following the landslide victory of Emmanuel Macron in the French polls on Sunday, with the Nikkei share average hitting its highest level since December 2015.

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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