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Equity Tips
Sensex, Nifty open flat after GST Council meet; Sun Pharma leads

Equity benchmarks started off the week on flat note after the GST Council meet, with the Nifty holding 9650 level.

The 30-share BSE Sensex was down 17.08 points at 31,256.21 and the 50-share NSE Nifty rose 3.50 points to 9,657. About 576 shares advanced against 222 declining shares on the BSE.

Sun Pharma, Cipla, BHEL, Adani Ports, Hero Motocorp, Bharti Infratel, IOC, Indiabulls Housing and Aurobindo Pharma were early gainers while ITC, Lupin, Coal India, Wipro, HDFC and Dr Reddy's Labs were under pressure.

The Indian rupee was trading at 64.33 against the US dollar on Monday, up 10 paise or 0.16 percent from Friday's closing level.

The rupee will breach 64.20 a dollar and will head towards 64, he feels. Trading range for the day will be 64-64.50, he said.

The dollar nursed losses, coming close to a seven-month low against a currency basket plumbed after disappointing US employment data prompted investors to pare back their expectations of future US Federal Reserve rate hikes.

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