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Equity Tips

Nifty holds 9200, Midcap outperforms; Q4 earnings eyed

Equity benchmarks started off the week on a positive note as the Nifty opened above 9200 level, backed by capital goods and oil marketing companies, despite geopolitical tensions.

The 30-share BSE Sensex was up 81.96 points at 29,788.57 and the 50-share NSE Nifty rose 25.80 points to 9,224.10.

Coal India, Reliance Industries, L&T, BHEL, Cipla, TCS, BPCL, IOC and Bharti Infratel were early gainers while HDFC, GAIL, Lupin, Asian Paints, Eicher Motors and Asian Paints were losers.

The Indian rupee opened marginally lower at 64.30 per dollar against Friday's close of 64.28.

The dollar started the week at three-week highs against a currency basket after a key US Federal Reserve official reinforced the Central Bank's commitment to interest rate hikes.

Asian equities were mixed on the back of heightened geopolitical tensions after a missile strike on a Syrian airfield last Friday and a move by the US military to send an aircraft carrier group near the Korean Peninsula in response to recent provocations by North Korea.

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