Sensex, Nifty under pressure; Midcap outperforms; HDFC twins gain

Epic Update HDFC BankEpic Update HDFC Bank

Benchmark indices continued to reel under selling pressure in noon, dragged by Infosys, ICICI Bank, Reliance Industries and ITC shares. HDFC and HDFC Bank supported the market, up 0.8 percent each.

The 30-share BSE Sensex was down 125.33 points at 29,523.66 and the 50-share NSE Nifty fell 31.75 points to 9,128.30.

The broader markets continued to outperform benchmarks, with the Nifty Midcap rising 0.4 percent. The market breadth was balanced.

Experts expect the market consolidation to continue for couple of days before getting ready for marching towards 9,300 level.

Idea Cellular was biggest loser among Nifty stocks, down 8 percent on profit booking after the Vodafone merger finalised.

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Epic Research
Epic Research - Investment Adviser is a leading financial services provider with presence in Indian and other global capital markets. Call on - 0731-664-2300