BANKING COMPANIES ADVANCE TAX NUMBERS LEAD CORRECTION

Banking Heavyweight like ICICI,SBI posted lower than expected Advance Tax Numbers lead correction in indian market.Sensex shut shop at 16879, down 220 points and Nifty at 5033, down 72 points from the previous close. CNX Midcap index is down 1.55% and BSE Smallcap index is down 1.42%. The market breadth is negative with advances at 280 against declines of 988 on the NSE. Top Nifty gainers included Cipla, Wipro and Hindalco while losers were IDFC, GAIL and Reliance Communications.