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Equity Tips
Sensex, Nifty erase most gains ahead of RBI policy; L&T declines

Equity benchmarks began the session on a positive note on Wednesday, with the Nifty opening at a record high. Midcaps too opened on a strong note.

The 30-share Sensex was up 84.40 points at 32659.57, while the Nifty was up 11.25 points at 10125.90. The market breadth was positive as 522 shares advanced against ad decline of 225 shares, while 47 shares were unchanged.

Hero MotoCorp and Lupin were the top gainers on both indices, while ONGC, Kotak Mahindra Bank, Ambuja Cements and ACC lost the most.

The Indian rupee on Wednesday opened at 64.12 to the dollar, up 0.1 percent from its previous close.

Dollar recovered mildly after hitting a 15-month low on a mix of political uncertainty and market expectations of further rate hikes from the Fed. The dollar index, which measures the dollar against a basket of rival currencies is subdued.

Asian stocks paused near decade-highs on Wednesday as investors waited to see if strong earnings results from tech bellwether Apple would ripple out to component makers in the region.

Shares in the world's most valuable company surged 6 percent after hours to a record of more than USD 159, taking its market capitalisation above USD 829 billion. That should also help carry the Dow through the 22,000 mark when trading resumes.

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