INDIAN MARKET MAY CORRECT 10-15%

Both Sensex and Nifty lag behind all other world market,Sensex closed at 16601, down 118 points and Nifty at 4952, down 35 points from the previous close. CNX Midcap index was down 0.15% and BSE Smallcap index was down 0.31%. The market breadth was negative with advances at 506 against declines of 761 on the NSE. Top Nifty gainers included Axis Bank, TCS and Cairn India while losers were Hindalco, Mahindra & Mahidra and Cipla.