Nifty inches towards 8750 amid consolidation; ITC, Sun Pharma up
Equity benchmarks continued to consolidate for the second consecutive session as investors waited for the outcome of two-day policy meeting of the Federal Reserve next week.
ITC, Adani Ports, Sun Pharma, Cipla, BHEL and GAIL were top gainers on the Sensex, up 1-2 percent whereas Infosys, Axis Bank, Hero Motocorp and Bajaj Auto lost 1-2 percent.
Equity benchmarks started off trade marginally higher on Thursday with the Sensex rising 42.89 points to 28415.12 despite mixed Asian cues.
Asian Paints, HDFC, Reliance Industries, ICICI Bank, HDFC Bank and ITC were early gainers while Infosys, Axis Bank, Hero Motocorp, L&T and Tata Steel were under pressure.
The Indian rupee has opened at 66.88 a dollar compared with 66.89 a dollar in previous session.
Markets in Asia were mixed, following a mixed finish in the US as oil prices dropped further and uncertainty lingered over key central bank policy meetings next week. Nikkei fell over a percent and Shanghai was down 0.7 percent while Hang Seng gained 0.6 percent.