Nifty was trading at 4902 on May 27th

The benchmark Nifty started the day on a flat note along with mild volatility. Today is the F&O expiry for May series. Asian markets also looked quite mixed in trade, so the markets were into consolidation phase after yesterday's rally. Nifty was trading at 4902, down 15 points and the Sensex was at 16343, down 44 points.

The BSE Smallcap Index rose 16 points to 8330. About 312 shares advanced while 375 shares declined on the NSE.

Among the frontliners, ICICI Bank, SAIL, TCS, Reliance Infrastructure, Unitech, Ambuja Cements, Hindalco, Suzlon Energy, Infosys, Reliance Industries, Jaiprakash Associates and IDFC were witnessing selling pressure.

Tata Steel was down 1.8% despite better-than-expected numbers.

However, Sterlite Industries, Sun Pharma, HUL, Cairn (ahead of numbers), ONGC and BHEL were gainers in early trade.

Adani Enterprises tumbled 6% post block deal; 50 lakh shares changed hands on NSE and BSE at Rs 534/share. Everest Kanto was down 2.7% on numbers. Piramal Healthcare, Aban, Gujarat NRE Coke and Educomp Solutions were down 1.5% each. However, Godrej Industries gained 3.8% post results.

Apollo Tyres was up 2%, Hexaware up 4%, GMDC up 3% and Pipavav Shipyard up 2.5%.

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