INDIAN EQUITY MARKET OUTLOOK - 2 Sep 2016

HDFC, ICICI Bank continue to gain; Sensex, Nifty consolidate

Equity benchmarks remained in a consolidation mode for the second consecutive day after rally in initial sessions of the week.

The 30-shares BSE Sensex was up 57.47 points at 28480.95 and the 50-share NSE Nifty rose 8.60 points to 8783.25 while the broader markets outperformed.

The market has opened higher with the Sensex up 86.13 points or 0.3 percent at 28509.61. The Nifty is up 21.70 points or 0.2 percent at 8796.35. About 237 shares have advanced, 93 shares declined, and 19 shares are unchanged.

Tata Motors, Hero MotoCorp, Coal India, ITC and Dr Reddy's Labs are top gainers while BHEL, Bharti, Axis Bank, Sun Pharma and Infosys are losers in the Sensex.

The Indian rupee opened higher by 10 paise at 66.85 per dollar on Friday versus previous close 66.95.

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