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Tuesday, June 27, 2017

Equity Tips
Nifty opens below 9500, Sensex volatile; PSU banks under pressure

Equity benchmarks extended losses in early trade Wednesday, with the Nifty opening below 9500 on further correction in PSU banks, healthcare and FMCG stocks.

The 30-share BSE Sensex was down 19.27 points at 30,938.98 and the 50-share NSE Nifty fell 27.70 points to 9,483.70.

ITC, SBI, Bank of Baroda, L&T, Sun Pharma, Lupin and Dr Reddy's Labs were under pressure while Infosys, ICICI Bank and HDFC continued to support the market.

Nifty Midcap lost 0.5 percent as about two shares declined for every share rising.

Vijaya Bank, OBC, Andhra Bank, Syndicate Bank, Escorts, Berger Paints, Bajaj Finance, DHFL and LIC Housing fell 1-2 percent whereas Jaiprakash Associates, Jaypee Infra, Adani Enterprises, Videocon Industries, Fortis Healthcare and Dish TV gained 1-15 percent.

The Indian rupee opened marginally lower at 64.55 per dollar against previous close of 64.53.

Rupee will take cues from weak domestic equity market and will trade sideways to negative. He expects the spot USD-INR pair to trade in a range of 64.40-64.80/dollar.

Asian indexes traded mostly lower after the softer lead from Wall Street, with the vote on a bill to replace Obamacare in the US delayed.

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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