Nifty consolidates; banks, metals, FMCG gain

MUMBAI: Indian markets were consolidating with a positive bias as some buying activity was seen at lower levels. However, analysts are advising caution as the technical bounce back may face resistance ahead of RBI policy meet.

At 12:50 pm; National Stock Exchanges Nifty was at 5799.40, up 36.55 points or 0.63 per cent. The broader index touched a high of 5822.80 and low of 5754.90 intraday.

Bombay Stock Exchanges Sensex was at 19,356.24, up 132.12 points or 0.69 per cent. The 30-share index touched a high of 19431.56 and low of 19198.14 in trade so far.

BSE Midcap Index was up 0.13 per cent and BSE Smallcap Index moved 0.13 per cent higher.

Amongst the sectoral indices, BSE Bankex was up 2.19 per cent, BSE Metal Index gained 1.09 per cent and BSE FMCG Index moved 0.94 per cent higher.

Hindalco Industries (3.85%), Sesa Goa (3.63%), Bajaj Auto (3.27%), Reliance Communications (3.25%) and Kotak Bank (3.09%) were amongst the top Nifty gainers.

Infosys Technologies (-2.13%), TCS (-2%), SAIL (-1.30%), Maruti (-1.03%) and Tata Motors (-0.81%) were amongst the losers.

Market breadth was flat on the NSE with 1325 advances against 1340 declines.

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