Markets Witness Mild Consolidation

After the impressive session in yesterday's trade, the markets opened flat in the early morning trade. The BSE Sensex was up by 61 points at 27173 while NSE Nifty was up by 26 points at 8140. As per the provisional data by the stock exchanges, foreign funds have sold shares worth Rs 9.5 crore on Thursday. However the overall market breadth on BSE was positive as 1213 shares advanced while 636 shares declined. The BSE mid-cap and small-cap indices continued to outperform. The BSE mid-cap index was up by 0.89% while small-cap index was up by 1.03%.

Tracking the momentum of sectoral indices, BSE IT was leading in the rally and was up by 1.80%. Major gainers in today's trade included TCS and HCL Tech, which was up by 2.86% and 2.57%. The other gainers in today's trade included Cipla which went up by 1.40% after the company signed an agreement with Salix Pharmaceuticals. Biocon was trading up by 2.6% after Silver Leaf Oak picked up 10% stake in Biocon's research services. The losers in today's trade included Suzlon which fell nearly by 10% on listing of fresh shares. JP Associates and Infratel were seen trading down by 5.25% and 4.67% respectively.

Further a mixed trend was seen in the Asian markets. Japan's Nikkei and Hong Kong's Hang Seng was trading up by 1.61% and 0.44%. However China's Shanghai was seen trading in red, down by 0.09%.