INDIAN EQUITY MARKET OUTLOOK - 2 May 2017

Sensex gains 150 pts, Nifty reclaims 9350; HDFC twins lead

The market started off the truncated week on a positive note after a long weekend, with the Sensex rising more than 100 points despite mixed Asian cues.

The 30-share BSE was trading at 30,029.76, up 111.36 points or 0.37 percent over previous close while the 50-share NSE Nifty was at 9,332.75, up 28.70 points or 0.31 percent.

Maruti Suzuki share price hit fresh record high of Rs 6,700, up 2 percent after showing 19.5 percent growth in April auto sales while Tata Motors fell nearly a percent.

HDFC, L&T, Asian Paints, ITC and ICICI Bank were other gainers while Reliance Industries and HDFC Bank were losers.

The Indian rupee opened marginally higher at 64.18 per dollar today against Friday's closing value of 64.24.

USD-INR pair has been consolidating above the 64/dollar mark.Today, he expects the pair to start around 64.25/dollar level and trade in an intraday range of 64.15-64.35/dollar range.

The dollar hit a one-month high against the yen today, lifted by treasury yields which surged after US Treasury Secretary Steven Mnuchin commented on the possibility of Ultra long-term bond issuance.

Asia markets were mixed as most major exchanges resumed after being shut for a public holiday on Monday.

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

Visit Here- http://www.capitalstars.com/