INDIAN EQUITY MARKET OUTLOOK- 7 Dec 2016

Nifty holds 8150 ahead of RBI policy; banks, auto shares lead

The market has opened steady ahead of RBI monetary policy review. The Sensex is up 71.33 points or 0.3 percent at 26464.09 and the Nifty is up 25.25 points or 0.3 percent at 8168.40. About 213 shares have advanced, 30 shares declined, and 10 shares are unchanged.

Bajaj Auto, SBI, Adani Ports, Maruti and HDFC are top gainers while Sun Pharma, TCS, Coal India, Dr Reddy's and Tata Motors are losers in the Sensex.

The Indian rupee opened marginally higher at 67.84 per dollar on Wednesday versus previous close 67.90.

"The rupee gained considerably against the USD yesterday on account of dollar selling by exporters and custodial banks. A deeper than expected rate cut may take the rupee lower today."

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