INDIAN EQUITY MARKET OUTLOOK- 7 Oct 2016

Nifty falls below 8700, Sensex in red; HDFC, Bajaj Auto down

The market is still struggling as the Sensex is down 55.44 points or 0.2 percent at 28050.77. The Nifty is down 24.15 points or 0.3 percent at 8685.40. About 961 shares have advanced, 930 shares declined, and 122 shares are unchanged.

The market has opened flat as global markets dragged. The Sensex is up 10.67 points at 28116.88 and the Nifty is up 2.50 points at 8712.05. About 599 shares have advanced, 207 shares declined, and 48 shares are unchanged.

ONGC, Tata Steel, GAIL, Tata Motors and ITC are gainers while Dr Reddy's Labs, Coal India, ICICI Bank, HDFC and L&T are losers in the Sensex.

The Indian rupee opened lower at 66.75 per dollar on Friday versus 66.69, down 18 paisa.

Major US stock indexes closed little changed, even as declining names outnumbered advancers, ahead of job market data seen as key to determine whether the Federal Reserve will raise rates before the end of the year.

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