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Monday, 22 September 2014

Sensex, Nifty flat; midcap & smallcap outperform; IT gains

Equity benchmarks started off Tuesday's trade on a flat note with the Sensex rising 32.39 points to 27239.13 and the Nifty advancing 9.10 points to 8155.40.

About 1005 shares have advanced, 357 shares declined, and 52 shares are unchanged.

TCS, Infosys, ICICI Bank, Wipro, NTPC, HCL Technologies and Tech Mahindra gained 0.7-1.7 percent while M&M, ITC, L&T, ONGC, HDFC Bank, DLF and Jindal Steel fell 0.4-1.4 percent.

Indian rupee has opened lower by 13 paise at 60.94 per dollar on Tuesday compared to previous day's closing value of 60.81 a dollar.

 Ashutosh Raina, HDFC Bank feels the focus now shifts to growth concerns in China. "Markets will be keenly awaiting the HSBC Manufacturing PMI today. The dollar strength has been the theme recently, with dollar index just shy of the psychological number of 85," he adds.

According to him, locally, the story of FII flows and Central Bank intervention continues. He expects the USD/INR pair to trade in 60.50-61.50/USD range. More information please visit this site

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