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. 

 

The 30-share BSE Sensex was up 31.18 points at 28403.41 and the 50-share NSE Nifty rose 9.45 points to 8736.05. The market breadth remained positive for second day as about two shares advanced for every share falling on the Bombay Stock Exchange. 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. 

 

Oil prices rebounded today after falling around 3 percent in the previous session, supported by an unexpected fall in US crude inventories. Brent crude futures were trading at USD 46.10 per barrel, up 0.55 percent, from the last settlement. US West Texas Intermediate futures were up 0.3 percent, at USD 43.71 a barrel.

 

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