Experts read into today's consolidation, offer trading ideas

The first quarter of FY17 has started on a positive note with some early signs of recovery, said Rajesh Kothari, CIO, AlfAccurate Advisors. "From 2-3 percent net profit earnings growth in the fourth quarter last fiscal, earnings have grown 7-8 percent for the Nifty companies, which is critical for the market movement," he told CNBC-TV18.

He believes global liquidity may move up or down but there are signs of wider earnings growth in the second half this fiscal.

Talking on the market movement, Ashwani Gujral said the markets may open in the lows but are likely to rally in later half of the trading sessions in coming days.

With the Sensex down 0.2 percent at 28926.36, and the Nifty slipping 0.3 percent at 8917.95, the market ended in the red after a volatile day of trading.