NIFTY INCHES TOWARD 8750; ITC FALLS 5%, HUL GAINS 5%

• The market is consolidating with the Nifty holding the 8700-mark comfortably. The 50-share index is up 29.15 points at 8724.75. The Sensex is up 101.18 points at 28885.85. About 1139 shares have advanced, 1733 shares declined, and 270 shares are unchanged. 
• HUL is up 4 percent while Bharti, HDFC, SBI and Infosys are gainers while ITC is down 5 percent followed by Sesa Sterlite, Cipla, ONGC and Tata Steel. 
• The agri revenue dropped to Rs 1598 crore from Rs 1786 crore in the year-ago quarter. The paper and packaging business revenue also dipped to Rs 1199 crore from Rs 1257 crore. The stocks is down over 4.4%.
• Asian shares hit a six-week high as investors counted on the European Central Bank to unveil a stimulus drive at its meeting on Thursday.
• foreign institutional investors were net buyers in equities to the tune of Rs 1,276 crore on Tuesday, as per provisional stock exchange data.
• The rupee trimmed its initial gains, but was still quoting up by 7 paise to 61.62 against the US currency in late morning deals today on bouts of dollar selling by banks and exporters.