The investor mood is very positive at the moment and investors are looking for more buy ideas than sell, is the word coming in from Prabodh Agrawal, president and head of research at IIFL Institutional Equities. However, he adds that investors may hold off for a bit as the market has already run up quite a bit and may remain in a consolidation phase from now to the Budget.

The sharemarket continued to consolidate today with the Sensex hovering around 29000 level, up 21.65 points at 28996.76.

The Nifty rose 0.55 points to 8755.50. The broader markets were also in consolidation mode ahead of Union Budget 2015 (to be announced on Saturday). About 957 shares have advanced, 975 shares declined, and 182 shares are unchanged on the Bombay Stock Exchange. FMCG, technology, capital goods, healthcare and select auto stocks supported the market whereas banks and oil & gas stocks remained under pressure. Shares of ITC, Larsen & Toubro, Hindustan Unilever, Wipro and Cipla gained 1 percent each. Infosys, TCS, HDFC, Maruti Suzuki, Coal India and Hero Motocorp traded with marginal gains.

However, Tata Motors, ICICI Bank, Reliance Industries, State Bank of India, ONGC, Axis Bank, Sesa Sterlite, Bharti Airtel and Tata Steel fell 0.6-1.8 percent.

Coustery : http://www.moneycontrol.com/news/local-markets/sensex-hovers-around-29000-fmcg-it-capital-goods-gain_1311901.html

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