At close, the Sensex was down 0.3 percent at 77,237 and the Nifty was also down 0.3 percent at 23,503
GIC Housing seems to be breaking out of a downwards sloping parallel channel pattern on the weekly timeframe after one and a half years and on the daily timeframe the stock seems to be breaking out of a consolidation which can be used as a confluence towards the bullish view.