The market continued to consolidate as investors monitor corporate earnings, and the movement in crude oil prices and rupee.
SBI is down around a percent ahead of March quarter earnings later in the day. Reuters poll estimates say the bank is likely to report a loss of Rs 1,270 crore on higher provisions towards bad loans.
IOC and HPCL are under pressure as Brent crude futures trade higher at around $76.5 a barrel on worries over Venezuelan supply.
The 30-share BSE Sensex was down 0.62 points at 34,615.51 and the 50-share NSE Nifty gained 4.10 points at 10,520.80.
Equity benchmarks have continued to maintain its lead from the first hour of trade, with the Sensex rising over 100 points, while the Nifty managed to trade above 10,500-mark. All sectoral indices except IT and PSU banks are trading in the green, with strength seen among pharmaceutical names. Midcaps, after a day of underperformance on Monday are mildly outperforming the Sensex and Nifty. Among stocks, Dabur India is buzzing in trade after ED is said to have attached assets worth Rs 21 crore that belong to Pradip Burman, Chairman of Dabur India. SBI is trading around a percent lower ahead of its Q4 earnings which will be declared later in the day.
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