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Wednesday, July 5, 2017

Equity Tips

Nifty opens above 9650, Sensex moderately higher despite weak Asia

Equity benchmarks opened moderately higher on Thursday, with the Nifty reclaiming 9650 level despite weakness in Asian peers.

The 30-share BSE Sensex was up 46.88 points at 31,292.44 and the 50-share NSE Nifty rose 8.95 points to 9,646.55.

The broader markets outperformed benchmarks, with the BSE Midcap and Smallcap indices rising 0.5 percent each. About 863 shares advanced against 260 declining shares on the BSE.

Lupin, Tata Motors, Tata Power, Ambuja Cements, Aurobindo Pharma, ITC, L&T, Bharti Infratel and ICICI Bank were early gainers while Bajaj Auto, NTPC, Axis Bank and Yes Bank were under pressure.

ABC Bearings surged 10 percent. Sobha surged 5 percent on strong pre-sales data for Q1FY18.

Shares of Punjab National Bank rose over 3 percent intraday as investors cheered an upgrade call on the stock.

Nomura, in its report, upgraded the stock to buy with a target price of Rs 180.

The brokerage house said that the incremental risk reward was favourable after 24 percent correction in two months. Further, it said that asset quality risks were largely discounted while pre-provisioning operating profit (PPOP) remains a pain point.

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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