Sensex lower, Nifty struggles below 9600 amid consolidation

Benchmark indices were marginally lower amid consolidation, with the Nifty struggling below 9600 level, weighed by HDFC Group, technology, banks and PSU oil stocks.

The 30-share BSE Sensex was down 32 points at 31,123.91 and the 50-share NSE Nifty fell 26.95 points to 9,591.20 despite positive market breadth.

About 1,327 shares advanced against 1,101 declining shares on the BSE.

HDFC Bank, TCS, HDFC, L&T, ICICI Bank, M&M, Infosys, ONGC and Coal India were down 0.4-1 percent while Reliance Industries extended gains to 2.2 percent followed by Wipro, Sun Pharma and Dr Reddy’s Labs.

In broader space, HPL Electric and Dredging Corporation gained around 10 percent.

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Posted in: Indian Market Tips