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Equity Tips
Sensex holds 30K, up over 100 pts; Midcap gains too; ITC, HDFC lead

Equity benchmarks started off day at fresh record high on Wednesday, with the Sensex surpassing psychological 30,000-mark on continued positive momentum and global cues.

The 30-share BSE Sensex was up 83.64 points at 30,026.88 and the 50-share NSE Nifty rose 32.35 points to 9,338.95, backed by banking & financials, FMCG and technology stocks.

HDFC, ITC, TCS, ICICI Bank, M&M, SBI and Reliance Industries were early gainers.

Axis Bank added more than 1 percent ahead of earnings later today while Wipro surged 2 percent on better-than-expected numbers in Q4 and hopes of strong FY18 earnings.

Cipla, Maruti Suzuki, Hero Motocorp, L&T, Bajaj Auto and Dr Reddy's Labs were early losers.

Indian rupee extended gains in early trade and breached the 64 mark against the US dollar in early trade.

It was trading at 63.99, the highest level since August 10, 2015 after opening higher by 7 paise at 64.19 per dollar.

Rupee can breach the stiff resistance of 64.20/dollar and may head higher. He expects the spot USD-INR pair to trade in a range of 64-64.40/dollar today.

Asian indexes traded higher, following the rise in US indexes on the back of strong earnings announcements and on expectations for US President Donald Trump's impending tax reforms.

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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