The sharemarket fell further amid consolidation. The Sensex declined 62.13 points to 28441.17 and the Nifty dropped 21.10 points to 8626.65 led by index heavyweights HDFC, ICICI Bank and Reliance Industries.

Despite the CPI numbers coming in marginally worse than expected, Sonal Varma of Nomura expects inflation to stabilize over the next 3-6 months. But the path to inflation stabilization may be bumpy, she warns.

The market fell further amid consolidation. The Sensex declined 62.13 points to 28441.17 and the Nifty dropped 21.10 points to 8626.65 led by index heavyweights HDFC, ICICI Bank and Reliance Industries. The BSE Midcap and Smallcap indices lost 0.5 percent each.

The market breadth was weak too. About 743 shares have advanced, 1208 shares declined, and 144 shares are unchanged on the Bombay Stock Exchange. Rakesh Arora, Macquarie says interest rate easing cycle, government-led infrastructure build and consumption growth revival should be the dominant themes for 2015-16.

According to him, industrials, autos and real estate provide the best opportunity to gain from the emerging trend. he recommends building long positions on dips. HDFC plunged 2.5 percent on profit booking. A media report says Standard Life may raise stake in HDFC JV to 35 percent.

Coustery : http://www.moneycontrol.com/news/local-markets/nifty-below-8650-hdfc-sesa-sterlite-ntpc-top-losers_1330198.html

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