Tuesday, January 3, 2017

Nifty higher, Mid & Smallcap outperform; HDFC rebounds, RIL down

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The market has opened flat on Wednesday. The Sensex is up 2.73 points at 26645.97 and the Nifty is up 9.15 points or 0.1 percent at 8201.40. About 656 shares have advanced, 186 shares declined, and 595 shares are unchanged.

Tata Motors, Infosys, Coal India, L&T and Maruti are top gainers while HDFC twins, Bharti, ITC and Lupin are losers in the Sensex.

The Indian rupee opened marginally higher at 68.29 per dollar versus previous close 68.33.

"The rupee is likely to take cues from the equity market movement and is expected to trade in the range of 68.20-68.55/dollar today."

US dollar rose to its highest in 14 years against the euro and a basket of major currencies yesterday after data showed solid growth in US manufacturing. The dollar index has pulled back marginally today on profit booking.

Among Asian markets, Japanese shares up more than 1 percent morning as the yen weakened against a stronger dollar, and after a private survey suggested the manufacturing sector might be recovering.

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