Nifty
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Equity benchmarks opened lower on
Tuesday following consistent nervousness due to Supreme Court order on coal
block allocation case. The Sensex fell 25.27 points to 26411.75 and the Nifty
lost 12.60 points to 7893.70.
About 548 shares have advanced, 500
shares declined, and 43 shares are unchanged.
Tata Power shed another 4.1 percent
and Jindal Steel lost 6 percent, in addition to 3.4 percent and 14 percent fall
in previous session on coal block allocation scam.
BHEL, Sesa Sterlite, Tata Motors,
M&M and PNB slipped 1-1.5 percent while Tata Steel, Coal India, HDFC, ITC
and HUL gained 0.6-1.7 percent.
The Indian rupee opened flat at
60.52 per dollar on Tuesday as against previous day's closing value of 60.56 a
dollar.
Ashutosh Raina of HDFC Bank said,
“The risk-on sentiment remains buoyant despite fluid geopolitical scenario. The
increased FII flows into Indian equity and bond markets have resulted in rupee
gaining and touching 60.50/dollar after recent losses. We expect the rupee to
trade in the 60-61/dollar range.”
The euro stayed on the back foot,
having extended its decline. Meanwhile, weakness in the euro helped the dollar
index, which remained close to its September 2013 peak of 82.671.
Globally, S&P 500 finally hit
2000 intraday but closed just shy of the psychological mark. Europe had a
stellar rally with major indices up nearly two percent on hopes of further
easing. Shares closed higher, boosted by hopes of further monetary steps to
boost the economy. The German DAX and French CAC closed with around 2 percent
gains. Asian markets were mixed.
Tata Power shed another 4.1 percent and Jindal Steel lost 6
percent, in addition to 3.4 percent and 14 percent fall in previous session on
coal block allocation scam. BHEL, Sesa Sterlite, Tata Motors, M&M and PNB
slipped 1-1.5 percent while Tata Steel, Coal India, HDFC, ITC and HUL gained
0.6-1.7 percent. The Indian rupee opened flat at 60.52 per dollar on Tuesday as
against previous day's closing value of 60.56 a dollar. Ashutosh Raina of HDFC
Bank said, “The risk-on sentiment remains buoyant despite fluid geopolitical
scenario. The increased FII flows into Indian equity and bond markets have
resulted in rupee gaining and touching 60.50/dollar after recent losses. We
expect the rupee to trade in the 60-61/dollar range.” The euro stayed on the
back foot, having extended its decline. Meanwhile, weakness in the euro helped
the dollar index, which remained close to its September 2013 peak of 82.671.
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