Saurabh Mukherjea’s top sectoral picks for the New calendar year

The Relationship between corporate earnings growth and GDP numbers has been broken in the domestic economy, if one were to go by the data available for the past six quarters. This means, the frontline companies can see earnings growth only when they are able to appropriate the benefits of economic growth, says Saurabh Mukherjea, CEO, Institutional Equities, Ambit Capital.

Mukherjea says the domestic economy is in a unique situation, and what is good for the economy may not necessarily be good for the stock market.

Meanwhile, as companies become more competitive, consumers begin getting a better deal for products across all sectors. As such, the next two years are going to be largely about select stock picking in key sectors, Mukherjea said, Adding: "To make mid-teen returns, one has to be necessarily in mid-cap and small-cap companies."

                                                              TOP SECTORAL BETS

Auto & auto ancillaries: This space will become bigger. Listed auto companies and also for the foreign markets, India will become an export hub. This is reasonably a straight-forward sector and this is where you can see much more Sensex participation.

FMCG: Regional players in the FMCG space will become a big theme to play, mainly through IPOs. Players like Ghadi Detergent, Anmol Biscuts and such others will become zonal leaders and large enough to be a substantial listed player.

Financials: Life insurance will be an addition to the financial services landscape in the listing space.


                                                              TOP THEMATIC BETS

Urban consumption: This will work as a theme, because consumers are getting a fair deal. The Seventh Pay Commission reward will work as a stimulus for this space. Trent, TVS MotorBSE 0.03 %, Titan are some of the names we have in our list.

Export-oriented sectors: The export sector will do well, as the rupee is continuously sinking. If you assume that China is going to devalue its currency, then the rupee is going to decline further. The cost of capital will continue to fall in India if all the competitive dynamics play out. Export plays look hot. Export-centric companies that have got strong franchise will do well.

Road construction: Road building is where all the action is going to be. This is a sector that the government has clearly prioritised. So stocks like Ashoka Buildcon, Sadbhav Engineering should do well.

                                                               WHAT TO AVOID  

Public sector banks: More pain is in store for them as fresh NPAs are likely to come up in real estate and metals sectors. The banking sector has already 13 per cent of its assets under the stressed category. What you have in India is actually a balance sheet recession, where the capex sectors have neither interest nor ability to generate capex, and the banking sector cannot finance the capex.

Stocks News by experts to Beat Volatility

The Indian market has shown resilience amid global turmoil, thanks to smart buying by domestic institutional investors (DII), but the Sensex is still down over 700 points from last Friday's closing level of 27,366.07.

The Sensex has, however, managed to rally nearly 1,000 points in just two trading sessions, including Friday's intraday movement of over 400 points, fuelling the potential of further upside. The Nifty has also managed to reclaim its crucial psychological level of 8000.

The September month is likely to remain volatile as derivative market participants carried forward short positions to the September series from the August month. But any dip should be used as a buying opportunity as the Indian market is still a buy on dips for the long term.

"India is not a sell on rallies market but, in fact, it is still a buy-on-dips market. We made a call earlier this week saying that we have seen one of the highest capitulations in the Indian stocks in the last five years," says Sandeep Tandon, MD & CEO, Quant Capital.

"This is the second largest capitulation after September-October 2008. Basically, this is the second largest capitulation which we have seen in the frontline after the Lehman crisis. Whenever we see this sort of capitulatory move, either the market has already made a bottom or we are very close to a bottom. Therefore, the bottoming process is now in final stages," he added.

To know More - Stock News

Agro Outlook Updates and Free Trading Tips for 24 April 2015

Stock Market News: Maize prices closed higher by 0.76 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of a rise in the demand from exporters and poultry industries. At NCDEX, maize futures for May 2015 contract closed at Rs. 1,195 per quintal, up by 0.76 per cent, after opening at Rs. 1,189 against the previous closing price of Rs. 1,186. It touched the intra-day high of Rs. 1,201.

Jeera prices closed lower by 0.3 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for May 2015 contract closed at Rs. 18,405 per quintal, down by 0.3 per cent, after opening at Rs. 18,400 against the previous closing price of Rs. 18,460. It touched the intra-day low of Rs. 18,260.

Barley prices closed higher by 2.98 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of strong demand from beer and cattle-feed making industries against restricted supply in physical markets. At NCDEX, barley futures for May 2015 contract closed at Rs. 1,228 per quintal, up by 2.98 per cent, after opening at Rs. 1,192 against the previous closing price of Rs. 1,192.5. It touched the intra-day high of Rs. 1,230.

Chana prices closed higher 1.97 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At NCDEX, chana futures for May 2015 contract closed at Rs. 4,045 per quintal, up by 1.97 per cent, after opening at Rs. 3,972 against the previous closing price of Rs. 3,967. It touched the intra-day high of Rs. 4,049.

Stock Market Trading Tips

ULTRA FUTURES

ULTRA FUTURE: STBT BOOK PART PROFIT IN WOCK PHARMA SELL CALL AT CMP 1325 NEAR TO OUR 1ST TGT 1320

ULTRA FUTURES

ULTRA FUTURE: CORRECTION STBT BOOK PART PROFIT IN AURO PHARMA SELL CALL AT CMP 1325 NEAR TO OUR 1ST TGT 1320

ULTRA EQUITY

ULTRA CASH: SELL UBL BELOW 1060 TGTS 1050/1030 SL 1070 

STOCK FUTURES

FUTURE: STBT ADANI ENETRPRISE HIT 1ST TGT 666 LOW OF 665.25 BOOK PART PROFIT AND EXIT 

STOCK OPTIONS

OPTION: BUY BHARTIARTL 410 CALL ABOVE 4.50 TGTS 5.50/7/9.50 SL 3

EQUITY HNI

EQUITY HNI: BUY THERMAX ABOVE 995 TGTS 1005/1020 SL 983 

STOCK FUTURES

FUTURE: BUY AXIS BANK ABOVE 527 TGTS 530/535/542 SL 523 

ULTRA FUTURES

ULTRA FUTURE: BUY HEXAWARE ABOVE 314 TGTS 315.25/317 SL 312.75

ULTRA FUTURES

ULTRA FUTURE: HEXAWARE HIT 1ST TGT 315.25 HIGH OF 315.40 BOOK PART PROFIT

FUTURE BONANZA

FUTURE BONANZA: BOOK PART PROFIT IN WOCK PHARMA SELL CALL AT CMP 1692.40 NEAR TO OUR 1ST TGT 1690, PROFIT OF RS. 3800 IN SINGLE LOT

Mcx Commodity Tips and News For 23 April 2015

Stock Market News: Natural Gas futures ended bigger in the domestic and overseas market on Wednesday as investors and speculators booked fresh positions in the energy commodity as traders eyed the weekly EIA storage numbers set for release on Thursday to gauge the strength of demand for the fuel in the world’s largest fuel consumer, the US. Analysts expect an 80 billion cubic feet build in US stockpiles in the week ended April 17, 2015, which will be well above the 45 billion cubic feet uptick witnessed in the same period a year ago, and topping the five-year average gain of 46 billion cubic feet.

At the MCX, Natural Gas futures for April 2015 contract ended at Rs 164.1 per 1 kg, up by 1.11 per cent after opening at Rs 161.7, against the last closing price of Rs 162.3. It touched the intra-day high of Rs 165.4 till the closing.

Zinc futures ended bigger in the domestic market on Wednesday as investors and speculators booked fresh positions in the industrial metal amid a pickup in physical demand for zinc in the domestic spot market. Investors cast aside China leading index data which rose 0.2 % in March from February when it climbed 1.4 per cent, signaling a worsening economic slowdown in the world’s biggest metals consumer. Meanwhile, consumer confidence in the Euro area fell this month, signaling doubts over the recovery in the 19-member economy. The gauge measuring Euro area consumer confidence fell to -4.6 in April from -3.7 in March.

At MCX, Zinc futures for April 2015 contract ended at Rs 140.85 per 1 kg, up by 1.37 per cent after opening at Rs 138.95, against the last closing price of Rs 138.95. It touched the intra-day high of Rs 141.15 till the closing.

Calls for Market Trading

ULTRA FUTURES

ULTRA FUTURE: BUY HDIL ABOVE 126.50 TGTS 127.15/128 SL 125.85 

EQUITY HNI

EQUITY HNI: BUY KRBL ABOVE 164 TGTS 166.50/170 SL 161

ULTRA EQUITY

ULTRA CASH: BUY CENTURYTEXTILE ABOVE 741.50 TGTS 748/758 SL 734

EQUITY HNI

EQUITY HNI: KRBL BUY CALL HIT 1ST TGT 166.50 CMP 167.30 HIGH OF 167.40 BOOK PART PROFIT 

ULTRA FUTURES

ULTRA FUTURE: BUY WOCK PHARMA ABOVE 1760 TGTS 1765/1772 SL 1755

ULTRA EQUITY

ULTRA CASH: SELL BAJAJFINSV BELOW 1337 TGTS 1325/1310 SL 1351 

EQUITY TIPS

CASH: BUY AMBUJACEM ABOVE 244.50 TGTS 246.50/249.50/254.50 SL 241.50

EQUITY HNI

EQUITY HNI: JETAIRWAYS HIT 1ST TGT 417 REC TO BUY @ 412 YESTERDAY BOOK PART PROFIT 

EQUITY HNI

EQUITY HNI: JETAIRWAYS HIT FINAL TGT 427 HIGH OF 427.40 REC TO BUY @ 412 YESTERDAY BOOK FULL PROFIT 

STOCK FUTURES

FUTURE: ARVIND HIT 1ST TGT 269 HIGH OF 269.70 BOOK PART PROFIT

Commodity Updates: India retains 3rd slot in global steel production

Stock Market News: India retained its position as the world's third-largest steel producer with a production of 14.6 million tonnes (MT) in the first three months of 2015, reported PTI. World Steel Association data showed that the country's production increased by 9.4 % in January-March quarter this year compared with the first three months last year. In February, India tumbled the US to become the world's third-biggest steel producer, after China and Japan. In March, the country's crude steel production grew by 10 % to 7.2 MT, while the global average decreased by 2.7 %. China, which produces half of the world's steel saw a decreased of around 2 % to clock 203.5 MT in the first 3 months of the year. On the other hand, world number two Japan saw a fall of 3 per cent to report steel production of 26.74 MT during the January to March period. In this month, Prime Minister Narendra Modi had said India needs to increase its steel production to surpass China to become the largest producer in the world, after it overtook the US.

Trading Calls

ULTRA FUTURES

ULTRA FUTURE:’ BUY BPCL ABOVE 807 TGTS 812/819 SL 802

INTERNATIONAL FOREX PACK

I FOREX: BUY GBPUSD ABOVE 1.4935 TGTS 1.4955/1.4985 SL 1.4915 

STOCK FUTURES

FUTURE: BUY REC LTD ABOVE 327.50 TGTS 329/331.50/335 SL 325.50 

ULTRA FUTURES

ULTRA FUTURE: BPCL HIT 1ST TGT 812 HIGH OF 812.20 BOOK PART PROFIT 

ULTRA OPTIONS

ULTRA OPTION: BUY DLF 140 CALL ABOVE 4.50 TGTS 5.50/7.50 SL 3.50 

EQUITY HNI

EQUITY HNI: BUY BAJAJFINSV ABOVE 1360 TGTS 1375/1400 SL 1345

OPTIONS HNI

OPTION HNI: BTST WOCKPHARMA 1700 CALL HIT 1ST TGT 65 HIGH OF 73.70 CMP 64.90 REC TO BUY @ 59

EQUITY TIPS

CASH: BHARTARTL BUY CALL HIT 1ST TGT 396.25 HIGH OF 396.90 BOOK PART PROFIT

Natural Gas and crude oil updates for 21 April 2015

Stock Market News: Natural Gas futures plunged in the domestic and overseas market on Monday as investors and speculators exited positions in the energy commodity amid worries that the onset of the spring season which may bring more seasonal weather in the US may cut demand for the heating fuel in the world’s biggest fuel user. The spring season is traditionally when demand for the energy commodity is the weakest amid lack of extreme temperatures which reduces the need for cooling or heating homes and offices. About 49 per cent of American households use natural gas for heating purposes.

At the MCX, Natural Gas futures for April 2015 contract closed at Rs 161 per 1 kg, down by 2.37 per cent after opening at Rs 164.2, against the previous closing price of Rs 164.9. It touched the intra-day low of Rs 160.3 till the ending.

Crude oil futures surged in the domestic market on Monday as investors and speculators booked fresh positions in the energy commodity as an ongoing drilling slowdown in the US evident by a nineteenth straight drop in the weekly rig count signaled slower oil production, easing fears over a global supply glut.

Further, the People’s Bank of China slashed the reserve requirements for lenders for the second time in less than two months in a bid to help stave off a worsening slowdown in the world’s second biggest economy, lifting the demand outlook for the fuel. China’s central bank cut the amount that banks need to set aside as reserves by 1 percentage point or 100 basis points to 18.5 %. Oil may fall today after Saudi Arabia signaled that the country likely pumped in a record 10 million barrels per day of oil in April, just as it did in March, widening a supply surplus.

At the MCX, Crude oil futures, for the April 2015 contract, closed at Rs 3,531 per barrel, up by 1.06 per cent, after opening at Rs 3,529, against the previous close price of Rs 3,494. It touched an intraday high of Rs 3,577 till the closing.

Todays Calls for Trading

NIFTY BONANZA

NIFTY BONANZA: BTST BANK NIFTY HIT 1ST TGT 18200 HIGH OF 18207.40 REC TO BUY @ 18090 BOOK PART PROFIT

STOCK FUTURES

FUTURE: SELL UPL BELOW 406 TGTS 404.50/402/398.50 SL 408

STOCK OPTIONS

OPTION: BUY BHARTIARTL 410 CALL ABOVE 8 TGTS 10/13/18 SL 5

STOCK FUTURES

FUTURE: UPL HIT 1ST TGT 404.50 BOOK PART PROFIT

STOCK FUTURES

FUTURE: UPL HIT 2ND TGT 402 LOW OF 399.15 NEAR TO OUR FINAL TGT 398.50 BOOK FULL PROFIT

ULTRA FUTURES

ULTRA FUTURE: BUY BPCL ABOVE 815 TGTS 820/827 SL 810 

ULTRA OPTIONS

ULTRA OPTION: BUY AMTEKAUTO 170 CALL ABOVE 1.30 TGTS 2.30/4.30 SL 0.30 

ULTRA FUTURES

ULTRA FUTURE: BUY WOCK PHARMA ABOVE 1694 TGTS 1699/1706 SL 1689 

EQUITY HNI

EQUITY HNI: BUY IDEA @ 192.50-192.60 TGT 197/200 SL 188 

ULTRA FUTURES

ULTRA FUTURE: BPCL ALMOST HIT 1ST TGT 820 HIGH OF 819.50 BOOK PART PROFIT

ULTRA FUTURES

ULTRA FUTURE: WOCK PHARMA HIT 1ST TGT 1699 BOOK PART PROFIT 

ULTRA FUTURES

ULTRA FUTURE: WOCK PHARMA HIT FINAL TGT 1706 HIGH OF 1711 BOOK FULL PROFIT AND EXIT THE POSITION AT CMP

Stock Market News and Tips for 20 April 2015

Stock Market News: Chana prices ended lower by 1.82 % on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At NCDEX, chana futures for April 2015 contract ended at Rs. 4,035/quintal, downward by 1.82 %, after opening at Rs. 4,056 against the last ending price of Rs. 4,110. It touched the intra-day low of Rs. 4,022.

Jeera prices ended higher by 3.43 % on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At NCDEX, jeera futures for April 2015 contract ended at Rs. 17,940/quintal, upward by 3.43 %, after opening at Rs. 17,570 against the last ending price of Rs. 17,345. It touched the intra-day high of Rs. 18,035.

Maize prices ended higher by 1.79 % on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of a rise in the demand from exporters and poultry industries. At NCDEX, maize futures for May 2015 contract ended at Rs. 1,191/quintal, moved upward by 1.79 %, after opening at Rs. 1,168 against the last ending price of Rs. 1,170. It touched the intra-day maximum of Rs. 1,194.

Zinc futures ended lower in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid subdued physical demand for zinc in the domestic spot market.

At MCX, Zinc futures for April 2015 contract ended at Rs 138.55/1 kg, downward by 0.25 % after opening at Rs 138.7, against the last ending price of Rs 138.9. It touched the intra-day low of Rs 138.15 till the ending.

MONDAY MORNING CALLS

ULTRA FUTURES

ULTRA FUTURE: BUY BPCL ABOVE 810 TGTS 815/822 SL 805

STOCK FUTURES

FUTURE: HDIL HIT 1ST TGT 129.30 BOOK PART PROFIT

FUTURE: SELL HDIL BELOW 129.70 TGTS 129.30/128.65/127.80 SL 130.20

STOCK FUTURES

FUTURE: HDIL HIT 2ND TGT 128.65 BOOK MORE PROFIT

STOCK FUTURES

FUTURE: HDIL HIT FINAL TGT 127.80 LOW OF 127.65 BOOK FULL PROFIT

FUTURE BONANZA

FUTURE BONANZA: BUY HDIL ABOVE 129.50 TGTS 130.75/132.50 SL 128.25 

ULTRA EQUITY

ULTRA CASH: BUY JETAIRWAYS ABOVE 443 TGTS 447/454/464 SL 438 

ULTRA OPTIONS

ULTRA OPTION: BUY WOCKPHARMA 1700 CALL ABOVE 60 TGTS 64/74 SL 55 

EQUITY HNI

EQUITY HNI: BUY CENTURYTEXTILE ABOVE 700 TGTS 710/730 SL 687

EQUITY TIPS

CASH: GAIL INDIA BUY CALL ALMOST HIT 1ST TGT 390.50 HIGH OF 390.35 BOOK PART PROFIT

Mcx commodity tips: Natural Gas Futures Swiped in the Domestic and Overseas Market

Mcx commodity tips: Natural Gas futures swiped in the domestic and overseas market on Wednesday as investors and speculators booked fresh positions in the energy commodity as investors eyed the release of the weekly US storage data on Thursday to gauge the strength of the desired for the weather-sensitive fuel in the world’s biggest fuel consumer.

At MCX, Natural Gas futures for April 2015 contract ended at Rs 163.90 per 1 kg, up by 3.73 % after opening at Rs 157.10, against the last ending price of Rs 158. It touched the intra-day high of Rs 164.2 till the ending.

Mustard seed prices ended higher by 2.48 % on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the decline in the supply for the commodity in the major markets. At NCDEX, mustard seed futures for April 2015 contract ended at Rs. 3,725 per quintal, up by 2.48 %, after opening at Rs. 3,770 against the last ending price of Rs. 3,635. It touched the intra-day high of Rs. 3,770.

Maize prices ended lower by 1.59 % on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher global supplies and weak offtakes from the local buyers. Sentiment weakened further as a result of a decline in the desired for the commodity from bio-fuel making industries tracking the weak global markets. At NCDEX, maize futures for April 2015 contract ended at Rs. 1,177 per quintal, down by 1.59 %, after opening at Rs. 1,186 against the last ending price of Rs. 1,196. It touched the intra-day low of Rs. 1,175.

Barley prices ended lower by 1.64 % on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors booked profits at the higher on account of the weak physical markets and also due to the fall in the desired from beer and cattle-feed makers. Sentiment weak-ended further on account of a surge in the arrivals of the commodity along with the sluggish desired on higher levels. At NCDEX, barley futures for April 2015 contract ended at Rs. 1,177 per quintal, down by 1.64 %, after opening at Rs. 1,191 against the last ending price of Rs. 1,158. It touched the intra-day low of Rs. 1,177.

Stock Market News and Updates for 15 April 2015

Stock Market News: Cardamom prices increased by 3.95 % on Wednesday at the Multi Commodity Exchange (MCX) on account of good buying support from both exporters and upcountry buyers and also on hopes of improved export desired. At MCX, Cardamom futures for April 2015 contract were trading at Rs 830.60/kg, up by 3.95 %, after opening at Rs. 767.10 against the last ending price of Rs. 799. It touched the intra-day maximum of Rs. 830.60 till the trading. (At 10.35 AM today).

Crude oil futures closed higher in the domestic market on Tuesday in the midst of continuing unrest in Yemen and mixed long-term forecasts on desired and production. Crude futures received a boost as fighting escalated between Iranian-backed, Shiite-led Houthi rebels and Sunni-led Saudi Arabian troops. Prices remained relatively unchanged after the Energy Information Administration (EIA) released its annual energy outlook for 2015 on Tuesday. The EIA estimates that brent will average $56 a barrel for the remainder of the year before increasing to $76 a barrel in 2018. Oil may extend gains today as energy traders await the release of the EIA weekly storage report on Wednesday. At MCX, Crude oil futures, for the April 2015 contract, ended at Rs 3,342/barrel, upward by 2.11 %, after opening at Rs 3,276, against the last close price of Rs 3,273. It touched an intraday maximum of Rs 3,354 till the ending.

Stock Market News: Castorseed prices increased by 0.03 %

Stock Market News: Castorseed prices increased by 0.03 % on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the rise in demand from consuming industries against restricted arrivals in domestic markets which in turn encouraged the investors to enlarge their holdings. At NCDEX, castor seed futures for April 2015 contract were trading at Rs. 3,705/quintal tonnes, upward by 0.03 %, after opening at Rs. 3,703 against the last ending price of Rs. 3,704. It touched the intra-day maximum of Rs. 3,731 till the trading. Castor is a non-edible oilseed crop; basically a cash crop, with average 46 % oil recovery.

Mentha oil prices increased by 0.78 % on Monday at the Multi Commodity Exchange (MCX) due to tight stocks position in the physical market due to restricted arrivals from producing belts. Mentha oil futures for April 2015 contract, at MCX, were trading at Rs. 935.50/kg, upward by 0.78 % after opening at Rs. 924.30 against the last ending price of Rs. 928.30. It touched the intra-day maximum of Rs. 939.90 till the trading.

Mcx commodity tips and Updates for 13 April 2015

Mcx commodity tips: Natural Gas futures ended lower in the domestic and overseas market on Friday as investors and speculators exited positions in the energy commodity amid speculation that the end of the winter heating season may cut the demand outlook for the weather-sensitive fuel.

At the MCX, Natural Gas futures for April 2015 contract ended at Rs 157.90 per 1 kg, down by 0.44 % after opening at Rs 159.4, against the last ending price of Rs 158.6. It touched the intra-day low of Rs 157.6 till the ending.

Cardamom prices fell by 0.23 % on Monday at the Multi Commodity Exchange (MCX) due to the adequate stocks availability in the physical market on account of higher supply from the producing belts of Chandausi in Uttar Pradesh.

At MCX, Cardamom futures for May 2015 contract were trading at Rs. 869 per kg, down by 0.23 %, after opening at Rs. 870 against the last ending price of Rs. 871. It touched the intra-day low of Rs. 864 till the trading.

Mustard seed prices ended higher by 0.06 % on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the decline in the supply for the commodity in the major markets. At the NCDEX, mustard seed futures for April 2015 contract ended at Rs. 3,572 per quintal, up by 0.06 %, after opening at Rs. 3,576 against the last ending price of Rs. 3,570. It touched the intra-day high of Rs. 3,589.

Jeera prices ended lower by 1.72 % on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for April 2015 contract ended at Rs. 16,660 per quintal, down by 1.72 %, after opening at Rs. 16,650 against the last ending price of Rs. 16,840. It touched the intra-day low of Rs. 16,450.

Forex Tips For 16 February 2015

Forex Tips

Rupee gains profit, still up by 14 paisa vs dollar 

The rupee pared its early gains profit, but was still bigger by 14 paise against the US dollar at Rs 62.14 in late morning trade today on sustained bouts of dollar selling by banks and exporters. The domestic currency continued bigger at 62.14 as against yesterday's end of 62.31 at the Interbank Foreign Exchange market here. It further strengthened to Rs 62.05 on good bouts of dollar selling from banks before quoting at its opening level of 62.14 at 1100 hours. The local currency levitate in a range of 62.17 to 62.05 per dollar during late morning trade.

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