Nifty consolidates after two days of gains, ends 14 pts up

Excerpts from Markets Today on CNBC-TV18 Watch the full show » RELATED NEWS United Bank of India looks expensive above Rs 80: Udayan Nifty may test 5300 in 1-2 trading sessions See good response to Persistent Systems IPO: Udayan ALSO READ See what other CNBC-TV18 anchors have to say Nifty BSE | NSE 10/02/12 Are Mutual Funds betting on Nifty?

The markets consolidated after two days of gains. The Nifty ended the day at 5,245, up 14 points, while the Sensex shut shop at 17,519, up 29 points. Volumes dipped in trade. The turnover for the day was a little less than Rs 93,000 crore. The Midcap index closed flat. The advance-decline ratio was 4:5 in favour of declines.

The big gainers today were the entire telecom space. Stocks like Idea, Reliance Communications, and Bharti ended with good gains.

JP Associates and Infosys also had a good day in trade.

It was reasonably good listing for United Bank. The stock witnessed some profit booking in late trade.

However, technology stocks, barring Infosys, ended in the red. Wipro, TCS, and HCL Tech slipped in trade.

Among the heavyweights, ONGC was a big loser today. M&M also cracked about 3% in trade.