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Equity Tips

Sensex rises over 100 pts, Midcap outperforms; ICICI, SBI lead gainers

Equity benchmarks started off last day of the week on mildly positive note, with the Nifty reclaiming 9100 level, backed by banking & financials and FMCG stocks.

The 30-share BSE Sensex was up 40.77 points at 29,372.93 and the 50-share NSE Nifty rose 10.20 points to 9,096.50. About 560 shares advanced against 192 declining shares on the BSE.

Bharti Airtel rallied 2 percent in early trade as the company will acquire Tikona Digital Networks’ 4G business for Rs 1,600 crore. Yes Bank was up over a percent after its QIP subscribed over 2.5 times.

The Indian rupee gained marginally in the early trade. It has opened at 65.48 per dollar versus previous close 65.52.

"The USD-INR pair continues to trade in a very tight range around the 65.50/dollar handle, with gains on account of strong portfolio flows getting offset by strong intervention."

He expects the pair to trade in the 65.30-65.70/dollar range for today.

The dollar hovered near a four-month low against the Japanese yen ahead of a vote on republican healthcare plans which is seen as a litmus test for President Trump's ability to deliver on promises.

Asian markets were mixed, shrugging off US equities lower close as key health care vote in the US was delayed and President Donald Trump called on legislators for an up-or-down decision today.

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