Today's Market Strategy on Indian Stocks

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The Sensex is down 51.48 points or 0.2 percent at 24555.51, and the Nifty slips 24.05 points or 0.3 percent at 7451.55. About 673 shares have advanced, 812 shares declined, and 62 shares are unchanged. ONGC, Tata Motors, Cipla, ICICI Bank and ITC are top gainers while HDFC Bank, Maruti, SBI, Adani Ports and Bharti Airtel are losers in the Sensex.

PSU Banking shares were underperforming the benchmark indices on account of profit-booking. The PSU Bank index on the NSE was down 1.3 per cent; State Bank of India was the top loser, down 1.78 per cent to Rs.s. 179.50. IDBI Bank, Allahabad Bank, Punjab National Bank, Canara Bank, Indian Overseas Bank, Union Bank of India and Bank of Baroda were also among the laggards, down 0.72-1.78 per cent.