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Nifty hovers around 8500, Midcap consolidates; Tata Motors gains

Equity benchmarks as well as broader markets continued to consolidate for the second consecutive session today, especially after a 2.6 percent rally in previous week.

The 30-share BSE Sensex declined 37.63 points to 27709.03 and the 50-share NSE Nifty fell 9.65 points to 8499.05.

Tata Motors was the leading gainer, up 1.4 percent followed by TCS, Sun Pharma, Lupin and ONGC while ITC, HDFC, HDFC Bank, SBI, Hero Motocorp and BHEL slipped over half a percent. HUL remained down 2 percent post Q1 earnings.

The market has opened marginally in green. The Sensex is up 39.87 points or 0.1 percent at 27786.53, and the Nifty is down 1.05 points at 8507.65. About 212 shares have advanced, 79 shares declined, and 24 shares are unchanged.

Tata Motors, ICICI Bank, TCS, HDFC and Tata Steel are gainers in the Sensex. HUL loses over 2 percent while Bharti, Wipro, BHEL and Adani Ports are losers. Mindtree  falls 6 percent on its Q1 results.

Among global peers, Asian markets were mixed in early trade on Tuesday, with shares of internet and telecommunication giant, SoftBank, tumbling some 10 percent as the Japanese market re-opened after being closed for a public holiday on Monday.

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