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Equity Tips
Sensex marginally trims losses, Nifty tests 10000; pharma stocks gain

Equity benchmarks extended losses in opening trade Thursday, with the Nifty struggling below 10,100 level, dragged by banks after RBI policy.

The 30-share BSE Sensex was down 40.79 points at 32,435.95 and the 50-share NSE Nifty fell 12.60 points to 10,068.90.

HDFC Bank, Axis Bank, ICICI Bank, Infosys, ONGC, HUL, Kotak Mahindra Bank, IndusInd Bank, M&M and SBI were under pressure.

IOC gained 1.3 percent ahead of earnings later today. HPCL, Sun Pharma, Wipro, TCS, Eicher Motors, Cipla and Aurobindo Pharma were trading higher.

Nifty Bank lost 0.5 percent. UCO Bank, Union Bank of India, Canara Bank, Bank of India and Allahabad Bank lost up to 3 percent.

HEG, ENIL, Godrej Consumer Products, Colgate, Emami, Voltas and Marico fell up to 3 percent.Bata India has put its best foot forward this quarter after posting a decent set of numbers.

Everything went right in the last quarter for the company. Same-store-sales-growth (SSSG) improved to 10 percent in Q1 versus 3 percent in FY17, Rajeev Gopalakrishnan, Managing Director and Chief Executive Officer said.

Company is focused on the premiumisation in the top 30 stores. Bata has opened close to 40 stores in the last quarter and it is now targeting 120 stores in FY18.

Wholesale saw some glitch in terms of goods and services tax (GST) but retail grew 15 percent in the last quarter.

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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