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Equity Tips

Sensex edges higher, Nifty holds 8100; ITC leads, HDFC drags

Equity benchmarks started off day on a flat note with positive bias Tuesday, with the Nifty holding 8100 level, supported by ITC and Infosys. HDFC, Reliance Industries, HDFC Bank, ICICI Bank and Tata Motors were under pressure.

The 30-share BSE Sensex was up 24.51 points at 26399.21 and the 50-share NSE Nifty rose 6.25 points to 8110.60.

The Indian rupee has opened higher today at 67.86 per dollar against previous close of 67.87 a dollar.

HDFC Bank says the dollar index continues to move higher, currently above 103 level, after the hawkish FOMC meeting and some recent geopolitical concerns.

The USD-INR pair has also slid from recent highs with continuing portfolio outflows and overall dollar strength, he adds.

The dollar regained some momentum, with the dollar index up at 103 compared with levels around 102 yesterday.

Asian shares traded mixed, with the Nikkei wavering despite the Bank of Japan sounding a positive note on Japan's economic outlook as it kept monetary policy steady.

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