Nifty takes a breather; global mkts in consolidation mode

After running for almost 5 percent over the last four sessions, the Indian market took a bit of a breather on Monday. The Nifty spent most of the day around 5,950 mark before closing below that level.

Global markets too were in mood of consolidation. Asian and European markets were a bit soft while closing trade. They fell in line with the global mood quickly. Volumes were also a bit subdued due to the flat nature of the market, said Udayan Mukherjee, managing editor, CNBC-TV18. Also Read: Indian market looks reasonable than others: Morgan Stanley Below is the verbatim transcript of Udayan Mukherjee's comments The market was dragged down by two-wheeler stocks that did not do very well. Information technology (IT) stocks that outperformed the market significantly over the last three weeks saw some consolidation. A pullback was seen in stocks like Wipro, Tata Consultancy Services (TCS) and Infosys. Bharat Heavy Electricals (BHEL) also had a bit of an off day. Gainers for the day included individual stocks like HDFC, DLF and Sun Pharma, Siemens. There was no special movement in midcap stocks and the breadth was mixed. The mid-cap index was quite flat. Paint stocks did well across the board. Shalimar was a big winner, Berger Paints and Asian Paints did quite well. Other winners were Jain Irrigation, Hexaware, Mahindra Satyam, Jet Airways, United Spirits, Tube Investment and Alembic Pharma. A very diverse set of stocks in the midcaps and smallcaps did quite well. Top losers included Dish TV. Titan and Apollo Tyres had an ordinary session.