Markets in consolidation mode

It is consolidation time for the markets. After surpassing important psychological levels of 18k and 5400 this morning, the benchmark indices are taking time to digest the gains before moving on. The Sensex is quoting at 18006, higher by 77 points and the Nifty is at 5403, up 17 points. The midcap index is quoting at 7447, higher by 34 points and the smallcap index is at 9519, up 62 points.

Realty and metals are leading the way. Ackruti City has strengthened by 2.7% at Rs 503, Unitech has hardened by 2.6% at Rs 83, Indiabulls Real Estate has gained 2% at Rs 169 and DLF has added 2% at Rs 321. In the metal space, Sterlite has strengthened by 1.1% at Rs 165 and Tata Steel has added 0.8% at Rs 515.

Among the Sensex losers, Hindustan Unilever has shed 0.7% at Rs 262, Cipla has lost 0.2% at Rs 328 and Tata Power has weakened by 0.1% at Rs 1328.

The market breadth is positive. Out of 2402 stocks traded on the BSE, there are 1596 advancing stocks as against 726 declines