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Tuesday, May 31, 2016

Equity Tips
Sensex extends rally, Nifty reclaims 8200; ITC, Asian Paints up

The market extended rally in morning trade with the Sensex rising 145.93 points to 26813.89 and the Nifty climbing 42.10 points to 8202.20. The broader markets also gained on strong market breadth.

Axis Bank, ITC, M&M, BPCL and Tata Power were early gainers while Tata Motors, ICICI Bank, NTPC and SBI declined.

The Indian rupee opened flat at 67.24 per dollar against previous close of 67.26.

The US dollar was mostly flat against a basket of major currencies after US economic data failed to support expectations for a June or July Federal Reserve interest rate hike. Asian markets were mixed with Hang Seng higher by 0.06 percent, the Nikkei 225 down 0.69 percent and the Shanghai Composite trading flat.

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