Sensex off low points, Nifty around 10,250; OMCs fall

Benchmark indices open lower on Tuesday with Sensex is down over 100 points, while Nifty is holding above 10,200.

At 09:16 hrs IST, the Sensex is down 103.45 points or 0.30% at 33963.95, and the Nifty down 39.40 points or 0.38% at 10211.50.

Tata Motors, Hindalco, Gail, Yes Bank, HCl Tech, IndusInd Bank, Asia, Paints are the major gainers on the indices. Oil marketing companies HPCL, BPCl, IOC are trading lower by 1-3 percent.

Rupee Update: The Indian rupee is trading lower by 14 paise at 73.58 per dollar on Tuesday versus previous close 73.44.

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Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-off-low-points-nifty-around-10250-omcs-fall-3101531.html

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Nifty hovers around 10,100, Sensex up 200 pts; pharma, PSU bank stocks up 4%

It is a good start to the week for the market, with the Nifty surpassing 10,050 in the opening trade. The Sensex opened over 150 points higher. 

Buying is visible across all sectors, with pharmaceuticals, banks, automobiles and metals trading in the green. The midcap index is up around half a percent. 
 
The Sensex is up 170.33 points or 0.51% at 33519.64, and the Nifty up 40.20 points or 0.40% at 10070.20. The market breadth is positive as 419 shares advanced, against a decline of 107 shares, while 3,089 shares are unchanged.

ICICI Bank, Yes Bank, and Indiabulls Housing have gained the most, while Kotak Mahindra Bank and IndusInd Bank are the top losers.  

Equities are off their opening highs. The Nifty is still above 10,050, while the Sensex is up over 100 points. 

The Sensex is up 117.52 points or 0.35% at 33466.83, while the Nifty is up 34.10 points or 0.34% at 10064.10. The market breadth is narrow as 811 shares advanced, against a decline of 496 shares, while 2,308 shares were unchanged.

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Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-hovers-around-10100-sensex-up-200-pts-pharma-psu-bank-stocks-up-4-3096621.html

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Rupee fall brings back IT, pharma sectors in favour for mutual funds

A sharp slide in rupee has prompted mutual fund managers to bet on export-oriented sectors such as information technology and pharmaceuticals.

The rupee has fallen over 15 percent against the dollar so far this year and is currently trading at 73.43 against the dollar. The currency is down 8.3 percent year on year, which means the depreciation is at a five-year high.

Krishna Sanghavi, head-equities, Canara Robeco Mutual Fund believes companies in export-oriented sectors will benefit from the rupee's depreciation. “We are positive on IT and pharma because of improving business outlook and benefits of rupee depreciation," he says.

Echoing Sanghavi’s view, LIC Mutual Fund’s Chief Investment Officer Sarvana Kumar says, “Pharma and IT companies are likely to report better earnings and an improvement in their profit margins.”

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Source:https://www.moneycontrol.com/news/business/mutual-funds/mf-wrap-rupee-fall-brings-back-it-pharma-sectors-in-favour-for-mutual-funds-3092981.html

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