Nifty, Sensex under pressure but Midcap outperforms again

Epic Update BHEL
Epic Update BHEL

Benchmark indices continued to fall amid consolidation in morning, dragged by profit booking ahead of outcome of two-day monetary policy committee due tomorrow.

The 30-share BSE Sensex was down 45.10 points at 28394.18 and the 50-share NSE Nifty fell 14.90 points to 8786.15 while the broader markets outperformed benchmarks again.

The BSE Midcap and Smallcap indices were up 0.4 percent each on positive breadth.

About 1241 shares advanced against 892 declining shares on the exchange.

ITC erased some gains on profit booking after rising more than 5 percent in early trade due to 2 percent stake sold by the government through SUUTI in opening. The stock was up 0.6 percent.

BHEL shares gained 2.8 percent ahead of quarterly earnings due later today. A CNBC-TV18 poll expects profit at Rs 31 crore against loss of Rs 1,100 crore in year-ago quarter.

Tata Motors, ICICI Bank, Mahindra & Mahindra and Bajaj Auto were down 1-2 percent followed by Reliance Industries, HDFC Bank and Infosys.

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