Nifty Consistently Struggling Below 8800 Level As Investors Shifted

Benchmark indices as well as broader markets were moderately under pressure amid consolidation, with the Nifty consistently struggling below 8800 level as investors shifted their focus to states elections from earnings. 

Assembly elections in five states will end on March 8 and results will be announced on March 11. The 30-share BSE Sensex was down 47.66 points at 28291.65 and the 50-share NSE Nifty fell 7.70 points to 8784.60. 

About 1207 shares declined against 848 advancing shares on the BSE. Market valuations are slightly beyond comfort and with no big macro events lined up, a runaway rally is unlikely, says Mahesh Patil of Birla Sun Life AMC.

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