Sensex trades in red, Nifty below 8,950; Tata Steel top loser

The market breadth, indicating the overall health of the market, was negative

The benchmark indices on Tuesday continued to trade lower after rising about 0.7% in the previous session, as recent outperformers such as banks were hit by profit-taking with analysts warning markets could head for a phase of consolidation this week.

At 01:22 pm, the S&P BSE Sensex was trading at 28,984, down 64 points, while the broader Nifty50 was ruling at 8,941, down 22 points. 

The Nifty has been hovering below its key psychological level of 9,000 this month but has been unable to break above it.

In the broader market, the BSE Midcap index outperformed the frontline indices, while