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Analysts expect the Nifty to consolidate in 22,400-21,800 range, supported by largecaps
BSE Midcap and BSE Smallcap indices were up by 1.4 percent and 2.5 percent after having been beaten down on March 13 by nearly 5 percent each.
The biggest Nifty losers included Adani Enterprises, Coal India, Adani Ports, Power Grid Corporation and NTPC, while gainers were ITC, UltraTech Cement, HCL Technologies, Kotak Mahindra Bank and ICICI Bank
Though analysts attributed this correction as healthy, they expect the pain to stay in the near-term
The ITC block deal ruboff failed to clear the sentiment and markets are now sharply lower with the selloff in the broader market continuing for a third session due to concerns over valuations.