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Thursday, June 8, 2017

Equity Tips
Nifty opens below 9650, Sensex lower; RIL up 1%, Infosys loses 3%

Equity benchmarks extended losses in early trade, with the Nifty opening below 9650 level amid consolidation.

Volatility continued in global markets as exit poll in UK showed UK Prime Minister Theresa May's Conservative Party may not get majority, which means there could be a possibility of hung parliament in the UK after Thursday's election.

The 30-share BSE Sensex was down 82.97 points at 31,130.39 and the 50-share NSE Nifty fell 22.75 points to 9,624.50.

Infosys was the leading loser among Sensex stocks, down 3 percent followed by GAIL, Wipro, Dr Reddy's Labs, Tata Motors and Tech Mahindra.

Reliance Industries was biggest gainer, up 1.5 percent followed by HUL, Coal India, M&M, L&T, Yes Bank, IOC and Kotak Mahindra Bank.

The Indian rupee has seen some correction in early trade. It has opened at 64.27 against the US dollar, down 6 paise compared with previous day's closing of 64.21 a dollar.

USD-INR currency pair has been consolidating in a range of 64.20-64.50 against the US dollar.

The rupee should continue to trade in this range with support expected at lower levels, he feels.

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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