Sensex, Nifty consolidate; Midcap & Smallcap outperform, SBI up


Equity benchmarks continued to consolidate ahead of expiry of July derivative contracts while the broader markets outperformed with the BSE Midcap and Smallcap indices rising over half a percent.

The 30-share BSE Sensex was down 22.52 points at 27780.72 and the 50-share NSE Nifty declined 3.90 points to 8537.30. About two shares advanced for every share declining on the Bombay Stock Exchange.

Axis Bank lost 2 percent after disappointing set of earnings in Q1. Profit fell 21 percent on account of sharp spike in provisions for bad loans and also NPA worsened.

Dr Reddy’s Labs declined nearly 2 percent while State Bank of India and Cipla gained 1 percent each.

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