Sensex, Nifty, Midcap volatile; HDFC Bank, Tata Motors, TCS drag

Benchmark indices as well as broader markets continued to consolidate as investors awaited Union Budget that will be presented in parliament on February 1. 
The Nifty already saw pre-Budget rally, up 9 percent in last one month. 

The 30-share BSE Sensex was up 9.92 points at 27892.38 and the 50-share NSE Nifty fell 2.25 points to 8639. 

The Union Budget 2017 will be a tightrope for Finance Minister Arun Jaitley to boost public spending and also keep deficit within limits, Ravi S Muthukrishnan of ICICI Securities says.
Oil prices extended declines today, dragged down by signs of growing output in the United States that could partly offset output cuts by OPEC and other producers. London Brent crude for March delivery dropped 0.47 percent to USD 55.26 a barrel and NYMEX crude for March delivery was down 0.43 percent at USD 52.94 a barrel.

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