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Equity Tips

Midcap, Smallcap outperform Sensex; Aurobindo top gainer

Equity benchmarks started off trade on a flat note again, as investors digested 25 basis points rate hike by Federal Reserve in its latest policy meeting.

The 30-share BSE Sensex was up 18.21 points at 31,174.12 and the 50-share NSE Nifty fell 7.65 points to 9,610.50.

Reliance Industries extended gains, up 0.75 percent on top of 3 percent rally in previous session.

Adani Ports, ITC, Bharti Airtel, Tata Motors, Hero Motocorp and ONGC were others gainers while TCS, L&T, ICICI Bank, Infosys and HDFC were under pressure.

In midcap space, City Union Bank, PNB, IDBI Bank, Bhushan Steel, Balaji Telefilms and Prism Cement were down over a percent while Ginni Filaments surged nearly 12 percent. Emkay Global was up 5% and SPARC gained 4 percent.

Shipping Corporation of India rallied 12 percent on stake sale buzz.

Indian rupee opened marginally higher at 64.27 per dollar versus previous close of 64.30.He expects the rupee to trade in a range of 64-64.35/dollar today.

Asian equities turned cautious after the US Federal Reserve raised interest rates for the second time this year, as was widely expected by markets. Hong Kong's Hang Seng and Australia's ASX 200 slipped over a percent.

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