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Hero MotoCorp, HCL Technologies, Kotak Mahindra Bank, ICICI Bank and SBI Life Insurance were top Nifty losers. Gainers included Tata Consumers Products, MM, BPCL, Bajaj Auto and Adani Ports
Analysts say the markets are on course of a bull trend, as most of the corrective action was over in the first quarter of this calendar year
Weakness in the financial services and information technology sectors weighed on the Nifty and the Sensex. For the Nifty, support is at 22,400 and resistance at 22,550
Smallcaps and midcaps outperformed the benchmarks, with BSE smallcap and midcap indices rallying 3 percent and 1.6 percent
The BSE midcap index rose 1.6 percent and the smallcap gained nearly 3 percent
Benchmark indices hold gains of early trade. All sectoral indices were in the positive territory with Nifty Realty, Nifty Media, and Nifty Metal seeing the most gains.