Sensex, Nifty, Midcap consolidate but market breadth positive

Axis Bank
Benchmark as well as broader indices continued to consolidate as investors digested Union Budget and await RBI policy due next week & more corporate earnings.

The 30-share BSE Sensex declined 16.60 points to 28125.04 and the 50-share NSE Nifty fell 9.20 points to 8707.20 but the market breadth remained positive as about 1335 shares advanced against 994 declining shares on the BSE.

Tata Motors fell 1.6 percent on profit booking as it already digested auto sales data announced yesterday after market hours.

Eicher Motors also fell 2 percent on profit taking. Infosys rebounded after losses in previous two consecutive sessions due to H1-B visa woes.

However, run up in ITC, ICICI Bank, Axis Bank, Bharti Airtel, NTPC and Sun Pharma continued in today’s trade as well.

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