The market slips further. The Sensex is down 159.92 points or 0.60 percent at 26596.52 and the Nifty slipped 57.65 points or 0.71% at 7983.95.
Not to stop taking the fall of Rs. Rupee against the dollar is rising towards 64. A decline in the rupee is still vigorous.With the fall of the rupee against the dollar money 24 is open at the level of 63.77. While Tuesday’s session was closed at 63.53 against the dollar, the rupee.
Apollo Tyres SELL call with a target of Rs 204
Banking stocks to feel stress in anticipation of rate cuts, Bank nifty is trading down side 0.25% or 39.45 at 17794.90.Fedral bank up 2.76%,
Bet on large cap IT stocks for the long term: We do have some exposure in IT. If currency weakens, they do benefit a bit. However, we have to look at several cross currencies versus the dollar. Rupee is weakening a bit, but versus practically every other currency, we may be strengthening a bit also.