Sensex consolidates; Bharti, ONGC, BPCL top gainers

The benchmark Sensex was consolidating at current levels, after previous two-day sell-off on weak global cues. On the one side, oil & gas, telecom, realty and banking companies' shares were helping the markets. However, selling continued in ITC, Wipro, Infosys, Tata Motors, Tata Power, L&T, Hero Honda, Sun Pharma, Jaiprakash Associates, HCL Tech, HDFC, Power Grid, Hindalco, Jindal Steel and Cipla.

The Nifty continued to face resistance at 5000 level and was trading at 4999, up 12 points. The Sensex rose just 38 points to 16655. However, the Nifty June futures have been in discount since the beginning of series; it was trading at 16 points discount. The broader indices were outperforming the benchmark indices; about 866 shares advanced while 320 shares declined on NSE.

Top gainers - Bharti Airtel was top gainer on bourses; shot up nearly 6%. The company has made an announcement on Tuesday that it has taken control of Zain Assets. BPCL was trading at Rs 558.50, up 2.71%; ONGC was at Rs 1,194.25, up 2.57%; Idea Cellular was at Rs 54.20, up 1.78%; M&M was at Rs 577.60, up 1.20%; Reliance Communications was at Rs 169.40, up 1.04%; HDFC Bank was at Rs 1,878, up 0.95% and DLF was at Rs 259.70, up 0.87%.

In the midcap space, Bajaj Finserv, Marico, Kwality Dairy, Simplex Infra and Redington gained 4-7.5% while Rajesh Exports, Triveni Engg, Thomas Cook, M&M Financial and KS Oils fell 2-3.5%.

In the smallcap space, KPIT Cummins, Shrenuj & Company, Shirpur Gold, Thinksoft and Jindal Worldwid went up 5-7% while Kanani Industries, Maharashtra Polybutenes, Ferro Alloys, Henkel India and Oscar Investment lost 3-5%.

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