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Sensex, Nifty consolidate after 4% rally; Tata Motors rebounds

Equity benchmarks as well as broader markets continued to consolidate in morning trade after rallying more than 4 percent from last week.

Tata Motors shares rebounded after falling in early trade, up 0.4 percent. Infosys, ITC, ICICI Bank, SBI, Tata Steel and Lupin continued to stay higher.

HDFC, Asian Paints, Adani Ports, NTPC, Bharti Airtel and BHEL were down 1-2 percent.

The market has opened on a strong note Wednesday. The Sensex is up 66.37 points or 0.2 percent at 29044.39, and the Nifty is up 25.70 points or 0.3 percent at 8968.70. About 351 shares have advanced, 76 shares declined, and 24 shares are unchanged.

TCS, SBI, Wipro, ICICI Bank and GAIL are top gainers while BHEL, Bharti, HDFC and Reliance are major losers in the Sensex.

The Indian rupee appreciated further, hitting more than four-month high. The currency has opened at 66.36 a dollar, up 16 paise compared with previous day's closing value of 66.52 a dollar. The upside in currency was largely on account of weaker dollar after likely delay in Fed rate hike.

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