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Equity Tips

Sensex, Nifty off opening highs; metals, pharma, PSU banks drag

Equity benchmarks started off trade on a positive note, with the Nifty reclaiming 10,350 level, tracking positive lead from Asian peers.

The 30-share BSE Sensex was up 95.75 points at 33,574.10 and the 50-share NSE Nifty gained 29.80 points at 10,356.70.

About 803 shares advanced against 291 declining shares on the BSE.

Yes Bank, NTPC, Ambuja Cements, Zee Entertainment, Reliance Industries, Tata Motors and Bosch were early gainers.

The rupee climbed 7 paise to 64.81 against the US currency today, spurred by positive equities. Banks and exporters chose to kept an arm's length from the dollar.

Stock markets continued to show strength that bolstered rupee sentiment, currency traders said. However, the dollar's clout overseas weighed heavy on the domestic unit.

Yesterday, the rupee had gained 22 paise to end at a two-week high of 64.89 against the dollar, cashing in on positive sentiment after Moody's upgrade of India's credit rating.

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