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| Nifty futures tips |
Today, the market has unlocked bigger on the back of firm global cues. The Sensex went up 120 points at 27669.53, while the Nifty was up 35.30 pts at 8391.15. Around to be 762 shares are ahead, 351 shares declined, and 64 shares remains unchanged. Sun Pharma, Cipla, Lupin, Bharti Airtel, Bank of Baroda, Idea Cellular and Infosys are top gainers, while Gail India, Tata Steel, Axis Bank & Hindalco are the top-most losers on the indices.
The INR(Indian rupee) slided further as it has began lower by 15 paise at 65.25 per dollar versus 65.10 yesterday. Pramit Brahmbhatt of Veracity said, rupee is predicted to remain under pressure following Yuan devaluation and daily fall. Selling pressure on equity market will fuel further weakness in rupee. Throughout the day we suppose that rupee to trade in a range of 64.80-65.40/dollar." The dollar gained back some ground after China's Central Bank said there was no basis for further depreciation of the yuan, refocusing attention on the likelihood of a Federal Reserve interest rate increase in September. Click Nifty futures tips
The INR(Indian rupee) slided further as it has began lower by 15 paise at 65.25 per dollar versus 65.10 yesterday. Pramit Brahmbhatt of Veracity said, rupee is predicted to remain under pressure following Yuan devaluation and daily fall. Selling pressure on equity market will fuel further weakness in rupee. Throughout the day we suppose that rupee to trade in a range of 64.80-65.40/dollar." The dollar gained back some ground after China's Central Bank said there was no basis for further depreciation of the yuan, refocusing attention on the likelihood of a Federal Reserve interest rate increase in September. Click Nifty futures tips
The move broke the central bank's devaluation pattern since Tuesday, and in line with the PBOC's announcement on Thursday that there was no basis for continued currency depreciation. A nearly flat finish on Wall Street overnight and a renewed decline in oil prices also kept a lid on risk appetite. Major US indices pared gains and finished mostly lower on Thursday, as a fall in energy counters offset a rebound in July retail sales and easing concerns over the continued depreciation of the Chinese yuan.
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