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Sensex, Nifty consolidate; BHEL, Coal India major laggards

Equity Tips

The market seems to be consolidating after a strong rally. The Sensex is up 59.09 points or 0.2 percent at 27685.78, and the Nifty up 18.75 points or 0.2 percent at 8486.65. About 1108 shares have advanced, 1158 shares declined, and 127 shares are unchanged.

ICICI Bank, HDFC Bank, Maruti Suzuki, Bharti Airtel, NTPC and Tata Steel were gainers in morning trade, up 1-2 percent while Coal India and BHEL fell over a percent. TCS, Sun Pharma, Infosys, Dr Reddy's Labs, Lupin and Cipla were also down on profit booking.

The Indian rupee opened marginally lower by 5 paise at 67.17 per dollar on Tuesday versus 67.12 Monday. The dollar near a one-week high against the yen following Japanese Prime Minister Shinzo Abe's call for a fresh round of fiscal stimulus.

Asian markets were broadly higher with shares in Japan leading the region. The Nikkei 225 was up 3.34 percent while Hong Kong's Hang Seng was about 0.81 percent higher. China's Shanghai Composite was up around 0.35 percent.

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