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Equity Tips
Nifty hits record high of 10,366.15 on 1st day November series

The market started off November series on a positive note as equity benchmarks hit fresh record highs but Nifty Bank fell over half a percent due to weak earnings from Yes Bank.

The 30-share BSE Sensex was up 83.71 points at 33,230.84 and the 50-share NSE Nifty rose 15.10 points or to 10,358.90.

Yes Bank plunged 10 percent post earnings while ICICI Bank was down 2.5 percent ahead of earnings later today.

ITC, Maruti and IOC gained ahead of earnings.Cipla, BPCL, Sun Pharma, Kotak Mahindra Bank, Bajaj Finance, L&T, Bajaj Auto, Aurobindo, Infosys and Tata Motors gained 1-2 percent.

Nifty Midcap index was up 0.3 percent and Smallcap gained 0.6 percent as about 897 shares advanced against 337 declining shares on the NSE.

Union Bank, Syndicate Bank, Allahabad Bank and DHFL were down a percent each.

The rupee dropped sharply by 20 to 65.03 per dollar in early trade today amid gains in the US currency in global markets.

HDFC Standard Life Insurance Company, a subsidiary of country's largest mortgage lender HDFC, fixed price band for its Rs 8,695-crore initial public offer (IPO).

"In this connection, we wish to inform you that the price band for the IPO has been fixed at Rs 275 to Rs 290 per equity share of Rs 10 each of HDFC Life," HDFC said in a regulatory filing on the stock exchanges.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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