Indian equities rebounded in early trade Friday after correction in previous session. The broader markets also opened higher with moderate gains.
The 30-share BSE Sensex was up 65.17 points at 26584.24 and the 50-share NSE Nifty rose 24.60 points to 8178.20. The BSE Midcap and Smallcap indices gained 0.3 percent each.
Infosys, HDFC, Tata Motors, TCS, Maruti Suzuki and L&T advanced 0.2-1 percent.
Axis Bank gained further, up 0.5 percent after the bank has suspended 24 employees due to irregularities in exchanges and deposits of money.
Sun Pharma extended losses a bit, falling half a percent after losing over 4 percent in previous session.
The Indian rupee has opened higher at 67.82 to the dollar compared with 67.83 in previous session.
Yesterday, it ended at lowest closing level against dollar since December 6, especially after the US Federal Reserve on Wednesday hiked interest rate by 25 basis points to 0.5 percent from 0.75 percent and announced hawkish outlook of three rate hikes in 2017 against two hikes expected in Fed's September policy.
Bhaskar Panda of HDFC Bank says US Federal Reserve delivered as per market expectations. Hawkish undertone has pushed Dollar index to 14-year high.
This will impact USD-INR pair as well, he feels. He expects a range of 67.90-68.30 against the US dollar.
Asian shares were higher as currency swings captured attention with the Chinese yuan at its lowest point against the dollar since May 2008 and Japan stocks up slightly on recent yen weakness.
Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
The 30-share BSE Sensex was up 65.17 points at 26584.24 and the 50-share NSE Nifty rose 24.60 points to 8178.20. The BSE Midcap and Smallcap indices gained 0.3 percent each.
Infosys, HDFC, Tata Motors, TCS, Maruti Suzuki and L&T advanced 0.2-1 percent.
Axis Bank gained further, up 0.5 percent after the bank has suspended 24 employees due to irregularities in exchanges and deposits of money.
Sun Pharma extended losses a bit, falling half a percent after losing over 4 percent in previous session.
The Indian rupee has opened higher at 67.82 to the dollar compared with 67.83 in previous session.
Yesterday, it ended at lowest closing level against dollar since December 6, especially after the US Federal Reserve on Wednesday hiked interest rate by 25 basis points to 0.5 percent from 0.75 percent and announced hawkish outlook of three rate hikes in 2017 against two hikes expected in Fed's September policy.
Bhaskar Panda of HDFC Bank says US Federal Reserve delivered as per market expectations. Hawkish undertone has pushed Dollar index to 14-year high.
This will impact USD-INR pair as well, he feels. He expects a range of 67.90-68.30 against the US dollar.
Asian shares were higher as currency swings captured attention with the Chinese yuan at its lowest point against the dollar since May 2008 and Japan stocks up slightly on recent yen weakness.
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Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
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