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Equity Tips

Nifty hovers around 9800, Sensex holds gains; IT, Banks down

Equity benchmarks opened moderately higher on Wednesday, with the Nifty climbing above 9,800 level despite weak Asian cues, backed by Reliance Industries, healthcare and auto stocks.

The 30-share BSE Sensex was up 62.75 points at 31,809.84 and the 50-share NSE Nifty gained 25.45 points at 9,811.50.

IndusInd Bank, ACC, Ambuja Cements, Bharti Airtel, Idea Cellular and IOC were early gainers.

The broader markets also participated in uptrend on positive breadth. About 761 shares advanced against 244 declining shares on the BSE. Nifty Midcap 100 gained 0.5 percent.

The Indian rupee opened higher by 8 paise at 64.51 per dollar versus previous close 64.59."The rupee has seen resistance at 64.50/dollar. The trading range for the spot USD-INR pair is seen between 64.50-64.75 for the day."

The dollar fell to a more than one-week low against a basket of major currencies after US President Donald Trump's eldest son released an email chain citing Russian support for his father before last year's US election.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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