The market traded lower amid consolidation, as investors shifted their focus from Karnataka to corporate earnings, and movement in rupee & crude oil prices.
The Nifty is struggling below 10,600 levels while the Nifty Midcap index extended losses, down more than 1 percent on weak market breadth.
About two shares declined for every share rising on the BSE.
PSU banks are on buyers' radar after Tata Steel-Bhushan Steel deal that will reduce bad loans of banks by Rs 35,000 crore. Bhushan Steel continued to hit 5 upper circuit.
Benchmark indices are rangebound as investors shifted their focus from Karnataka to the movement in crude oil prices and rupee.
The 30-share BSE Sensex was down 38.99 points at 34,809.31 and the 50-share NSE Nifty fell 20.30 points to 10,576.10.
About 1,203 shares declined against 764 advancing shares on the BSE.
Missed call
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