''Indian markets are likely to remain in consolidation mode before the Stock specific action Q3 earnings season. In the long term, however, the undertone continues to remain bullish. The volatility may increase on global news flows but it is prudent to remain invested,'' said ICICIdirect.

''Domestic markets erased early gains to end lower as investors took some profits. With both Houses of Parliament adjourning sine die and reforms in a limbo, concerns about Prime Minister Narendra Modi's ability to enact reforms kept investors in a cautious mood,'' it said.

''US markets traded choppy following release of a mixed batch of US economic data,'' it added.

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