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Monday, May 8, 2017

Equity Tips
Sensex opens flat, Nifty above 9300; midcaps gain

Indian Benchmark indices opened in the green on Tuesday, with indices posting marginal gains and holding on to key milestones.

The 30-share Sensex was up 35.66 points at 29961.81, while the Nifty was up 11.50 points at 9325.55. The market breadth was healthy as 593 shares advanced against a decline of 179 shares, while 31 shares were unchanged.

Asian Paints, Hero MotoCorp, HDFC and Indian Oil were top gainers on both the indices, while Adani Ports, Bharti twins and Ambuja Cements lost the most.

On the global front, the S&P 500 ended flat on Monday after briefly touching a record high, while Wall Street's "fear gauge" dropped to its lowest in over two decades following centrist Emmanuel Macron's victory in the French presidential election.

The rupee on Tuesday opened at 64.42 against the dollar, 12 paise lower than its previous close, on strong demand for the greenback from nationalised banks and importers.

On Monday, the rupee had closed 7 paise higher from its Friday close, after having seen higher gains earlier in the session. However, towards the end of trade, demand for the dollar returned and many nationalised banks were seen buying dollars.

Asian equities were mostly muted after soaring in the previous trading session with investors focused on key regional events unfolding in the day, including a presidential election in South Korea and the release of the Australian federal budget.

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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