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Sunday, July 23, 2017

Equity Tips
Sensex extends rally, Nifty hits 9950; ITC soars 2% on price hike

Equity benchmarks started off the week on a positive note, with the Nifty and Bank indices opening at record highs.

The 30-share BSE Sensex was up 51.05 points at 32,079.94 and the 50-share NSE Nifty gained 9.05 points at 9,924.30. About two shares advanced for every share falling on the BSE.

Lupin gained 2 percent followed by Wipro, Reliance Industries, Coal India and Adani Ports.

Nifty Midcap gained 0.2 percent in early trade. Divis Labs, SREI Infrastructure, MRPL and Persistent Systems lost up to 5 percent.

Tata Sponge, IIFL Holdings, Quess Corp, J&K Bank, GVK Power, Avenue Supermarts, Amtek Auto, Fortis Healthcare, HPCL and Vijaya Bank gained up to 8 percent.

The Indian market has performed exactly in-line with the EM MSCI Index over the past 12 months. The BSE Sensex rallied 15 percent in last one year.

In model portfolio, Kotak removed Aurobindo Pharma and reduced weight on Reliance Industries, Prasad said.

He further said the research house allocated 100 bps to IOC and included Hindalco Industries. Among metals stocks, it has had recommended positions in JSW Steel, Tata Steel and Vedanta.

ITC shares gained as much as 2.4 percent in morning trade Monday as the cigarette major hiked select product prices following GST Council hiked cess to pre-GST level.

The company increased cigarette prices of its three brands effective July 18, reports CNBC-TV18 quoting sources of Cogencis.

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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