Friday, 31 August 2018

Equities Have Given Up All Their Gains On Friday Morning

Equities have given up all their gains on Friday morning, with the Nifty trading below 11,700. A sharp selloff in metals, banks as well as energy names is weighing on indices. Meanwhile, pharmaceuticals continue to trade higher, led by gains in Sun Pharmaceuticals.

Midcaps have continued to outperform the benchmarks, gaining over quarter of a percent. Among gainers are Adani Ports, Wipro, HCL Tech and Bharti Infratel, while Yes Bank and Vedanta have lost the most.

The Sensex is down 11.73 points or 0.03% at 38678.37, while the Nifty is up 5.20 points or 0.04% at 11682.00. The market breadth is positive as 1,247 shares advanced, against a decline of 922 shares, while 144 shares are unchanged.

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Shares Of Yes Bank Fell Almost 7 Percent On Friday Even As Clarity Emerged

Shares of Yes Bank fell almost 7 percent on Friday even as clarity emerged on its MD Rana Kapoor’s reappointment. Late on Thursday, the bank told exchanges that the Reserve Bank of India had approved the continuance of Kapoor to lead the bank till further notice. 

Analysts are wary of the uncertainty around this appointment too. The stock touched an intraday high of Rs 350.00 and an intraday low of Rs 338.00.

In June this year, Yes Bank's shareholders had approved the re-appointment of Rana Kapoor as the chief executive and managing director for three years, subject to final approval from the Reserve Bank of India.

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Thursday, 30 August 2018

Indian Rupee Touched A Record Low Of 70.81 Per Dollar

After a marginal gap down opening the Indian rupee touched a record low of 70.81 per dollar.

It has opened marginally lower at 70.63 per dollar versus previous close 70.59.

On Wednesday, the rupee closed at a historic low of 70.59 after it plunged to all-time low of 70.65 on the back month-end dollar demand from importers and foreign capital outflows.

Yesterday rupee posted a biggest single session decline against US dollar since August 13.

The rupee has fallen by 10 percent this year so far - making it the worst-performing currency in Asia.

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The Market Has Opened Flat Ahead Of Expiry Of August Futures & Options

The market has opened flat ahead of expiry of August futures & options contracts later today.

The 30-share BSE Sensex rose 1.83 points to 38,724.76 while the 50-share NSE Nifty fell 1.40 points to 11,690.50. Vedanta, Sun Pharma, UPL, Coal India, Cipla, Wipro and ITC are early gainers.

HPCL, BPCL, IOC, SBI, Kotak Mahindra Bank, Yes Bank, Reliance Industries, ICICI Bank and Maruti Suzuki are under pressure. Nifty Midcap was up 17 points.

Dena Bank, Corporation Bank, Punjab & Sind Bank, Greaves Cotton, Laurus Labs, NFL and NALCO gained 3-8 percent.

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Wednesday, 29 August 2018

Rupee At Fresh Record Low! Slumps 37 Paise To 70.47 Against US Dollar

The Indian rupee hit a fresh record low of 70.47 against the US Dollar on Wednesday in the foreign exchange market hurt by a strengthening US dollar amid concerns of a rising current account deficit on the back of higher oil prices. Bloomberg data showed that the rupee slumped to a low of 70.4763 against the greenback in early afternoon deals on Wednesday, falling 36 paise from its Tuesday’s close at 70.10 against the US currency.For more information ✆ +91 9111-179961 or Visit www.dollaradvisory.com

Sensex, Nifty Wobble In Early Trade; Lupin Down 1%

The Sensex is down 11.77 points or 0.03% at 38884.86, while the Nifty is lower by 10.70 points or 0.09% at 11727.80. The market breadth is positive as 518 shares advanced, 310 shares declined, while 59 shares were unchanged. For more information ✆ +91 9111-179961 or Visit www.dollaradvisory.com

Tuesday, 28 August 2018

The Indian Rupee Opened Higher By 14 Paise At 70.02 Per Dollar On Tuesday

The Indian rupee opened higher by 14 paise at 70.02 per dollar on Tuesday versus previous close 70.16.

Rupee consolidated in abroad range for the tenth consecutive sessions despite weakness in the dollar against its major crosses. 

Yesterday, the dollar was weighed down after US and Mexico agreed overhaul the NAFTA, putting pressure on Canada to agree to new terms on auto trade and dispute settlement rules to remain part of the three-nation pact, said Motilal Oswal.

US president threatened he still could put tariffs on Canadian-made cars if Canada did not join its neighbors and warned he expected concessions on Canada’s dairy protections.

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Shares Of Jet Airways Rose Nearly 3 Percent In The Opening Trade On Tuesday

Shares of Jet Airways rose nearly 3 percent in the opening trade on Tuesday despite the company reported weak numbers in the quarter ended June 2018.

The company has reported net loss at Rs 1,323 crore in Q1FY19 against profit of Rs 53.5 crore in the same quarter last fiscal.

Revenue was up 6.4% at Rs 6,010.5 crore against Rs 5648.9 crore. Q1 EBITDA loss was at Rs 1,018.4 crore versus EBITDA of Rs 88.1 crore.

The company to focus on looking at raising funds, also to focus on cost cutting measures, raise revenues through monetisation.

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Monday, 27 August 2018

The Indian Rupee Gained In The Opening Trade On Monday

The Indian rupee gained in the opening trade on Monday. It has opened higher by 15 paise at 69.76 per dollar versus 69.91 Friday.

On Friday, Rupee rose following weakness in the dollar against its major crosses and ahead Fed chairman statement at the Jackson Hole Symposium. In the recent past, rupee has been under pressure primarily on back of global factors than domestic factors, said Motilal Oswal.

Broad dollar strength has been one of the major factors that led to weakness in major Asian currencies and rupee has been one of the weakest of the pack.

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Shares Of Reliance Industries Rose 1 Percent On Monday Morning

Shares of Reliance Industries rose 1 percent on Monday morning as investors cheered good revenue data for its telecom business, Reliance Jio. The stock has also hit a fresh 52-week high.

The stock touched an intraday high of Rs 1,291.85 and an intraday low of Rs 1,280.00. According to a report in The Economic Times, the firm is now the second-largest company by revenue market share. It has now pipped Vodafone India.

The report further added that strong performance in rural mobile markets and competitive pricing aided the performance.

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Friday, 24 August 2018

Shares Of Axis Bank Rose Around 2 Percent On Buzz Of A Management Change At The Bank


Shares of Axis Bank rose around 2 percent on buzz of a management change at the bank. According to a report in The Economic Times, Amitabh Chaudhry of HDFC Life is likely to be the successor to Shikha Sharma, Axis’s current CEO and MD.

The stock touched an intraday high of Rs 641.80 and an intraday low of Rs 635.00.

The report further quoted block deal data from exchanges, which revealed that the executive sold over 11.62 lakh shares between April 26 and August 20, 2018 on the NSE.

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Equity Benchmarks Have Marginally Extended Their Gains From The Opening Minutes

Equity benchmarks have marginally extended their gains from the opening minutes, with the Nifty trading around 11,600-mark. The Sensex is up around 50 points. A sharp recovery in banks as well as metals has helped the market. FMCG and pharmaceuticals are trading in the red. Meanwhile, midcaps are trading in the green, up around quarter of a percent.

The Sensex is up 56.53 points or 0.15% at 38393.29, while the Nifty is up 13.50 points or 0.12% at 11596.30. The market breadth is narrow as 942 shares advanced, against a decline of 740 shares, while 94 shares are unchanged.

Shares of Axis Bank is up 2 percent on reports of Amitabh Chaudhry likely succeeding Shikha Sharma. Hexaware fell 17 percent after Baring PE is said to have sold 8 percent equity in the company.

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Thursday, 23 August 2018

The Indian Rupee Opened Lower By 21 Paise At 70.02 Per Dollar On Thursday

The Indian rupee opened lower by 21 paise at 70.02 per dollar on Thursday versus previous close 69.81.

Rupee consolidated in a narrow range for the fourth successive session following a relief rally in most of the Asian currencies. Rupee in the Asian pack has been one of the weakest currencies in this year and broad strength in the dollar is keeping gains capped for the currency, said Motilal Oswal.

Fall in the rupee has been on back of external factors as the domestic fundamentals remained unchanged. Rupee experienced a relief rally after comments from the US President, who said that he was "not thrilled" with the Federal Reserve's interest rate hikes.

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L&T Up Over 3 Percent Ahead Of AGM For Buyback

L&T up over 3 percent ahead of AGM for buyback. Dabur, TCS are some of the gainers, while RIL is trading lower.

It’s another record high start for the market on this Thursday morning, with the Nifty hitting 11,600 for the first time, while the Sensex hit 38,400 in the opening minutes.

At 09:15 hrs IST, the Sensex is up 114.88 points or 0.30% at 38400.63, while the Nifty is up 30.10 points or 0.26% at 11601.00. The market breadth is positive as 471 shares advanced, against a decline of 160 shares, while 49 shares were unchanged.

Among sectoral gainers, pharmaceuticals lead the way, up almost a percent, while IT and FMCG are the other top gainers. Banks, on the other hand, are trading lower. The midcaps space is trading marginally higher.

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Tuesday, 21 August 2018

The Indian Rupee Opened Higher By 17 At 69.65 Per Dollar On Tuesday

The Indian rupee opened higher by 17 at 69.65 per dollar on Tuesday versus previous close 69.82.

The dollar-rupee August contract on the NSE was at 69.86 in the previous session. August contract open interest declined 7.19% in the previous session, said ICICIdirect.

We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added

The rupee made a strong comeback in Monday's trading session as it ended higher by 33 paise at 69.82 against Thursday's close of 70.15.

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Equity Benchmarks Continued To Trade Flat After Giving Up Almost All Gains

Equity benchmarks continued to trade flat after giving up almost all gains, with the Nifty hovering around 11,550.

At 11:15 hrs IST, the Sensex is down 12.30 points or 0.03% at 38266.45, and the Nifty down 0.00 points or 0.00% at 11551.80. The market breadth is narrow as 1,194 shares advanced, against a decline of 1,046 shares, while 142 shares are unchanged.

Banks continue to be the losers along with metals, infra, and FMCG names. Meanwhile, IT continues to be the lead gainer.

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Friday, 17 August 2018

Asian Markets Traded Mostly Higher Today, Following Positive Lead From Wall Street

Asian markets traded mostly higher today, following positive lead from Wall Street and positive newsflow on US-China trade war front.

Japan's Nikkei jumped over 2 percent followed by Hong Kong's Hang Seng, Australia's ASX 200 and South Korea's Kospi. However, only China's Shanghai Composite traded half a percent lower.

US markets on Thursday ended higher with Dow Jones rising 1.6 percent (the biggest jump since April). S&P 500 gained 0.8 percent and Nasdaq Composite rose 0.42 percent.

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Shares Of Jet Airways Soared 3 Percent After Clarity Emerged On Its Board Meeting

Shares of Jet Airways soared 3 percent after clarity emerged on its Board Meeting, where it will be declaring its results for the June quarter.

The stock touched an intraday high of Rs 308.90 and an intraday low of Rs 303.25.

A meeting of the Board of Directors will be held on August 27, 2018 to approve the unaudited financial results for the June quarter.

“In this connection, the trading window for dealing in the securities of the company will remain closed till Wednesday, 29 August 2018. We request you to take the above information on record,” the airline told exchanges.

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Thursday, 16 August 2018

Equity Benchmarks Have Resumed The Truncated Week On A Negative Note

Equity benchmarks have resumed the truncated week on a negative note, with the Nifty giving up 11,400 in the opening tick. The Sensex is lower by over 150 points.

At 09:15 hrs IST, the Sensex is trading lower by 183.89 points or 0.49% at 37668.11, while the Nifty is down 56.80 points or 0.50% at 11378.30. The market breadth is narrow as 326 shares advanced, against a decline of 326 shares, while 69 shares are unchanged.

Selling is visible among major sectoral indices, with maximum cuts seen in banks as well as metals. A weaker rupee is boosting stocks in the tech space, while pharmaceuticals are trading around half a percent higher.

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Shares Of Kotak Mahindra Bank Fell Around 3 Percent On Thursday Morning

Shares of Kotak Mahindra Bank fell around 3 percent on Thursday morning as investors reacted to regulatory developments on Tuesday.

The stock touched an intraday high of Rs 1,271.00 and an intraday low of Rs 1,257.75.

Kotak Mahindra Bank's preferential issue does not meet the dilution norms, the Reserve Bank of India had said on Tuesday.

Under the norms of the licence given to the bank, the Founder and Promoter Uday Kotak was to reduce his stake in the bank to 20 percent by 2019 and 15 percent by 2020.

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Tuesday, 14 August 2018

Indian Rupee Opened Marginally Higher At 69.85 Per Dollar On Tuesday

Indian rupee opened marginally higher at 69.85 per dollar on Tuesday, after ending at an all-time closing low the day before.

The rupee ended 110 paise lower at 69.93 on Monday against its Friday's close of 68.83, which is a biggest single session decline against dollar since September 3, 2013.

The fall in rupee was mainly impacted by drop in Turkish Lira, which helped the US dollar to gained strength on the back of fears that economic crisis in Turkey could spread to other global economies.

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Equity Benchmark Indices Have A Positive Start In The Pre-Opening Trade On Tuesday

Equity benchmark indices have a positive start in the pre-opening trade on Tuesday, with Nifty trading around 11,400 mark.

At 09:02 hrs IST, the Sensex is up 91.74 points or 0.24% at 37736.64, and the Nifty up 43.50 points or 0.38% at 11399.30.

Page Industries, Tata Steel, Infosys, SBI, HDFC Bank, ITC are trading higher in the pre-opening trade.

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Monday, 13 August 2018

The Indian Rupee Slipped To A Record Low As It Fell 66 Paise In the Early Trade On Monday

The Indian rupee slipped to a record low as it fell 66 paise in the early trade on Monday.

It has opened at 69.47 per dollar on Monday versus 68.83 Friday.

The dollar-rupee August contract on the NSE was at 68.99 in the previous session. August contract open interest declined 1.86% in the previous day, said ICICIdirect.

We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.

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Equity Benchmark Indices Have A Negative Start In The Pre-Opening Trade

Equity benchmark indices have a negative start in the pre-opening trade on the first trading day of the week, with Nifty trading below 11,400 mark.

At 09:06 hrs IST, the Sensex is down 153.75 points or 0.41% at 37715.48, and the Nifty down 48.40 points or 0.42% at 11381.10.

The Sensex is down 268.42 points at 37600.81, and the Nifty down 73.80 points at 11355.70. About 347 shares have advanced, 846 shares declined, and 71 shares are unchanged.

Nifty Bank down 1 percent as banking stocks were under pressure post the rupee touched a record low of 69.49 in the opening trade on Monday.

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Friday, 10 August 2018

The Indian Rupee Opened Lower By 15 Paise At 68.83 Per Dollar On Friday

The Indian rupee opened lower by 15 paise at 68.83 per dollar on Friday versus previous close 68.68.

The dollar-rupee August contract on the NSE was at 68.82 in the previous session. August contract open interest increased 4.31% in the previous day, said ICICIdirect.

We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.

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Equity Benchmark Indices Have A Flat Start In The Pre-Opening Trade

Equity benchmark indices have a flat start in the pre-opening trade on the last trading day of the week, with Nifty holding above 11,450 mark.

At 09:01 hrs IST, the Sensex is up 6.31 points or 0.02% at 38030.68, and the Nifty down 14.70 points or 0.13% at 11456.00.

Jet Airways, Interglobe Aviation are down 5-10 percent, while Vakrangee, Au Small Finance are trading higher in the pre-opening trade.

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Thursday, 9 August 2018

The Indian Rupee Gained In The Early Trade On Thursday

The Indian rupee gained in the early trade on Thursday. It has opened higher by 14 paise at 68.48 per dollar against previous close 68.62.

Rupee closed almost flat against the US dollar and traded with low volatility as most market participants have been following escalation of ongoing trade war between two major economies, said Motilal Oswal.

Yesterday, Chinese commerce ministry announced that it has decided to impose additional tariffs of 25% on USD 16 billion worth of US imports from fuel and steel products to autos and medical equipment.

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The Bulls Continues Their Upward Momentum As Equity Benchmarks Have Start The Day

The bulls continues their upward momentum as equity benchmarks have start the day on a strong note, with Nifty, Sensex and Nifty Bank opened at record high. Sensex touched 38,000 for the first time, while Nifty is trading around 11,500.

The Sensex is up 117.47 points at 38,005.03, and the Nifty up 27.70 points at 11,477.70. About 671 shares have advanced, 348 shares declined, and 61 shares are unchanged.

All sectoral indices are trading in the green, with maximum gain seen in metal, energy and PSU banks.

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Wednesday, 8 August 2018

The Indian Rupee Trading Marginally Higher At 68.61 After A Flat Opening At 68.66 Per Dollar

The Indian rupee trading marginally higher at 68.61 after a flat opening at 68.66 per dollar on Wednesday against previous close 68.68.

Rupee snapped its three-day losing streak and rose primarily on back weakness in the dollar against its major crosses. 

Volatility in rupee continued to remain high as most market participants are cautious following escalating trade tensions between US and China. Yesterday, US trade representative office said that it published a final tariff list targeting 279 imported product lines, said Motilal Oswal.

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Equity Benchmarks Have Start The Day On A Positive Note

Equity benchmarks have start the day on a positive note, with the Nifty trading around 11,400, while Sensex up by 20 points.

The Sensex is up 17.44 points at 37,683.24, and the Nifty up 7.20 points at 11,396.70. About 614 shares have advanced, 323 shares declined, and 60 shares are unchanged.

All sectoral indices are trading in the green, with maximum gain seen in metal names. Infra, energy and PSU bank space is also trading higher.

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Tuesday, 7 August 2018

The Indian Rupee Opened Marginally Lower At 68.91 Per Dollar On Tuesday

The Indian rupee opened marginally lower at 68.91 per dollar on Tuesday versus previous close 68.88.

The dollar-rupee August contract on the NSE was at 69.04 in the previous session. August contract open interest increased almost 6.09% in the previous day, said ICICIdirect.

We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added.

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Equity Benchmarks Have Begun The Day On A Record High Note

Equity benchmarks have begun the day on a record high note, with the Nifty trading comfortably above 11,400. The Sensex has risen over 100 points.

The Sensex is up 115.50 points or 0.31% at 37807.39, while the Nifty is up 32.00 points or 0.28% at 11419.10. The market breadth is positive as 464 shares advanced, againt a decline of 119 shares, while 60 shares are unchanged.

All sectoral indices are trading in the green, with maximum gain seen in auto names. IT, metals and pharma space is also trading higher. In the broader markets, the Nifty Midcap index is up over one third of a percent.

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Monday, 6 August 2018

The Indian Rupee Opened Marginally Higher At 68.57 Per Dollar On Monday

The Indian rupee opened marginally higher at 68.57 per dollar on Monday versus 68.61 Friday.

The dollar-rupee August contract on the NSE was at 68.86 in the previous session. August contract open interest increased by almost 10% in the previous day, said ICICIdirect.

We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added.

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Equity Benchmarks Have Clocked Fresh Record Highs On Monday Morning

Equity benchmarks have clocked fresh record highs on Monday morning, with the Nifty hitting 11,400 for the first time, while the Sensex is also gained 200 points.

The Sensex is up 220.59 points at 37,776.75, and the Nifty up 57.30 points at 11418.10. About 818 shares have advanced, 177 shares declined, and 55 shares are unchanged.

All the sectoral indices are trading positive, while midcap and smallcap are also trading in line with major indices.

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Friday, 3 August 2018

The Indian Rupee Opened Flat At 68.69 Per Dollar On Friday Versus 68.70 Yesterday

The Indian rupee opened flat at 68.69 per dollar on Friday versus 68.70 yesterday. Rupee fell sharply following broad strength in the US dollar against its major crosses after the Federal Reserve held rates unchanged but hinted towards gradual rate hike in the coming months. 

Earlier this week, RBI in its policy statement considered raising rates by 25bps but retained its neutral stance as it aimed to contain inflation while not choking growth, said Motilal Oswal.

While the RBI marginally trimmed its inflation projections for the current quarter, the central bank said its inflation projections beyond that remain “broadly unchanged. Today, USD-INR pair is expected to quote in the range of 68.50 and 68.90-69.05, it added.

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Jet Airways’ Shares Fell Around 6 Percent On Friday Morning

Jet Airways’ shares fell around 6 percent on Friday morning as investors turned wary of reports of a financial crunch in the airline.

The stock touched an intraday high of Rs 325.00 and an intraday low of Rs 312.25.

In a statement issued to the media, the airline has said that some of the cost cutting measures include sales and distribution, payroll and maintenance, among others.

Jet said that the “airline management is in dialogue with key stakeholders to enlist their full support and cooperation for realising necessary savings.”

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Thursday, 2 August 2018

The Indian Rupee Opened Higher By 6 Paise At 68.37 Per Dollar On Thursday

The Indian rupee opened higher by 6 paise at 68.37 per dollar on Thursday versus previous close 68.43.

Rupee rose against the US dollar in the latter half of the session after the RBI considered raising rates by 25 bps but retained its neutral stance as it aimed to contain inflation while not choking growth. 

It’s the second straight meeting that RBI raised rates but retained its stance Neutral. While the RBI marginally trimmed its inflation projections for the current quarter, the central bank said its inflation projections beyond that remain broadly unchanged, said Motilal Oswal.

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The Benchmark Indices Have Opened Lower With Nifty Slipped Below 11,350

The benchmark indices have opened lower with Nifty slipped below 11,350 and Sensex down over 100 points. Nifty PSU banks down 1% led by SBI, Syndicate Bank, Allahabad Bank, Canara Bank, Bank of India, Andhra Bank and Bank of Baroda.

The Sensex is down 132.87 points at 37,388, and the Nifty down 36.20 points at 11,310. About 533 shares have advanced, 558 shares declined, and 57 shares are unchanged.

Nifty Bank was down 0.5 percent led by ICICI Bank, Axis Bank, Yes Bank, SBI. Other losers are Hindalco, Tata Steel, Bajaj Auto, Tata Motors, Maruti Suzuki.

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Wednesday, 1 August 2018

The Indian Rupee Opened Flat At 68.55 Per Dollar On Wednesday

The Indian rupee opened flat at 68.55 per dollar on Wednesday versus 68.54 yesterday.

The dollar-rupee August contract on the NSE was at 68.79 in the previous session. August contract open interest declined 3.67 percent in the previous day, said ICICIdirect.

We expect the USD-INR to meet supply pressure at higher levels. Utilise upsides in the pair to initiate short positions, it added.

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Equity Benchmarks Are Off To A Positive Start On Wednesday Morning

Equity benchmarks are off to a positive start on Wednesday morning in pre-opening rates, with the Nifty hovering above 11,350-mark. The Sensex is nearing 37,700 as well.

At 09:01 hrs IST, the Sensex is up 90.49 points or 0.24% at 37697.07, and the Nifty up 14.20 points or 0.13% at 11370.70.

Shares of RIL are trading higher, while oil marketing companies are trading in the green too. Tata Motors is likely to be lower post Q1 results.

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