Sensex, Nifty choppy; Midcap underperforms; oil stocks rally


Benchmark indices remained rangebound in morning, with the Nifty hovering around 8800 level as investors closely watch assembly elections of five states that started on February 4.

The 30-share BSE Sensex was down 7.14 points at 28344.48 and the 50-share NSE Nifty fell 7.90 points to 8797.15 while the broader markets underperformed, with the BSE Midcap index down 0.5 percent on weak breadth.

About 1359 shares declined against 1050 advancing shares on the BSE.

HUL lost 1.5 percent despite Bank of America Merrill Lynch maintained a buy call on the stock, with target price at Rs 1,000. The research firm says demonetisation-led impact on domestic sales is waning quickly and it is positive about emerging prospects and hence margin goals restated.

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