Opening bell: Sensex rebounds 100 pts, Nifty reclaims 10,150; Bharti Infra up 2% | Indian Share Market

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Opening bell: Sensex rebounds 100 pts, Nifty reclaims 10,150; Bharti Infra up 2%

5paisa Capital, the subsidiary of IIFL Holdings, has settled at Rs 400 per share in pre-opening trade on NSE.

9:53 am Rupee trade: The rupee came under pressure against the dollar today slipping 11 paise to 65.32 after upbeat economic data bolstered prospects of a US interest rate increase next month and beyond.

A higher interest regime pulls investors looking for more returns away from emerging markets assets that are considered risky.   The American unit strengthened overseas, too.

Forex dealers said increased demand for the US currency from importers and the greenback’s gains against other currencies overseas put pressure on the rupee.

Yesterday, the rupee had rebounded 21 paise to close at 65.21 against the US currency, ending its two-day slide on fresh bouts of dollar selling even as trade deficit widened alarmingly to a three-year high.

Reliance Nippon Life fell below its issue price of Rs 252 per share, following correction in other Anil Dhirubhai Ambani Group stocks.

At 09:43 hours IST, the stock price was quoting at Rs 240, down Rs 14.20, or 5.59 percent on the BSE.

9:32 am CLSA on J Kumar: CLSA has retained its buy call on J Kumar Infra with target at Rs 355 per share despite company’s flat second quarter earnings.  Margin expansion in Q2 was led by better mix & cost control in materials.

The research house believes clearances for JNPT & Metro execution will lead to 23 percent revenue CAGR over FY17-20 and forecasts 26 percent EPS CAGR over FY17-20.

Source: moneycontrol.com

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