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Thursday, July 13, 2017

Equity Tips

Sensex erases all gains, Nifty below 9900; Tata Group stocks down

Equity Benchmark indices continued their bullish run on the market, with the Sensex and Nifty conquering fresh records. The latter opened above 9900 for the first time.

The Sensex was up 72.24 points at 32109.62, while the Nifty was up 12.70 points at 9904.40. The market breadth was positive as 369 shares advanced against a decline of 109 shares, while 22 shares were unchanged.

Midcaps outperformed in the opening tick along with pharma, while the IT and PSU bank indices on Nifty opened in the red.

Infosys, Adani Ports and Aurobindo Pharma gained the most on both indices, while TCS, HDFC and Asian Paints were the top losers.

The Indian rupee opened flat at 64.44 per dollar on Friday against previous close 64.44.

Meanwhile, The dollar index was largely steady against a basket of major currencies helped by upbeat economic data. The dollar edged upon against the yen though it's still below the highs hit earlier this week.

"The USD-INR pair has been consolidating in a range and we expect it to trade in a range of 64.40-64.60 today. The lower than expected CPI data has brought the focus back on rate cut."

He further added, "We expect the 10-year benchmark bond yield to trade in a range of 6.44-6.46 percent for the day."

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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