Indian Stock Market Tips Updates; Nifty to scale Mt 9,000 before Budget

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It was another lackluster session for the intraday market on Wednesday as the Sensex ended below the 29000-mark, weighed down by banks, capital goods and select auto stocks. The 30-share BSE Sensex declined 117.03 points to 28883.11 and the 50-share NSE Nifty slipped 32.85 points to 8723.70, continuing weakness for the fourth consecutive session while the broader markets closed flat.
Investors started booking profits due to disappointing earnings from banks but every dip should be a buy, say experts. The 50-share Nifty index slipped to 200 points from a record high of 8996.60 hit last month but if you ask the brokerages they will tell you to hold your nerves and wait. The index, they feel, should be able to surge past the crucial psychological level of 9000. 

Axis Bank was the biggest loser on Sensex again, down 4.4 percent. Its rival State Bank of India was down 2.4 percent and ICICI Bank fell 0.5 percent while HDFC Bank wiped out all its gains in late trade to close flat with negative bias. Public sector lender Canara Bank gained 3 percent on reporting 60 percent growth in profit due to higher other income and lower provisions.