Sensex, Nifty, Midcap consolidate; PNB jumps 5%, BPCL falls

Equity benchmarks as well as broader markets continued to consolidate today after rising sharply in previous two consecutive sessions. The Sensex declined 5.44 points to 23643.78 and the Nifty slipped 3.15 points to 7188.60. 

Select banks and auto stocks gained while FMCG, pharma and HDFC group stocks were under pressure. Amit Rathi, MD at Anand Rathi financial services says, the Nifty looks close to its bottom and it may see 15-20 percent upside over the next year to around 8000 levels. 

Punjab National Bank gained nearly 5 percent on a media report that the bank may consider selling stake in subsidiaries for raising funds. However, oil marketing companies saw selling pressure with BPCL down 3 percent.

BUY MCLEOD RUSSEL FUTURE ABOVE 146 TG 146.75, 147.75, 149.25 SL 144.70,