Nifty continues to struggle below 8650; IT, auto stocks drag

Consolidation continued on equity benchmarks ahead of the Union Budget on February 1. The 30-share Sensex was trading flat with a negative bias at 27867.73, while the broader index Nifty was trading lower by 0.12 percent at 8630.95.
About 1,097 shares have advanced, 1,183 shares declined, and 256 shares are unchanged.
Bharti Airtel and Sun Pharma were top gainers in the Sensex, with gains of 4.28 percent and 1.69 percent, respectively. Hero MotoCorp and Tata Motors were the top losers on the index, after having lost 1.49 percent and 1.48 percent respectively. Telecom stocks were the top gainers on the Nifty, with Idea Cellular gaining 7.12 percent. The stock is witnessing strong movements on rumours of a merger from Vodafone. Aurobindo Pharma was the top loser on the index after having lost 1.48 percent.

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