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Thursday, March 9, 2017

Equity Tips

Sensex cheers exit poll, up over 100 pts; Nifty eyes 9000

Investors cheered the results of UP exit poll as the Sensex gained more than 100 points and the Nifty is eyeing 9000 level.

The 30-share BSE Sensex was up 127.50 points at 29,056.63 and the 50-share NSE Nifty rose 43.05 points to 8970.05. About 711 shares advanced against 190 declining shares on the BSE.

Adani Ports, Hero Motocorp, ICICI Bank, Larsen and Toubro, GAIL, Tech Mahindra, Kotak Mahindra Bank, Bank of Baroda and Tata Motors (DVR) were early gainers while ONGC was under pressure.

The Indian rupee opened marginally higher at 66.69 per dollar against previous close of 66.71.

"In the run up to the March FOMC next week, the probability of Fed hiking rates has gone up substantially. While the rupee continues to gain on the back of sustained portfolio inflows, depreciation is likely as the dollar continues to gain."

"We expect the USD-INR pair to trade in a range of 66.60-66.90/dollar today,"

The dollar firmed to six-week highs against the yen and looked set for a modest weekly gain as investors awaited US job data later in the day that is expected to reinforce expectations of a Federal Reserve interest rate hike next week.

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