A day of consolidation on D-Street after a monster rally seen in the previous trading session. The Nifty50 closed marginally above its support of 11700 levels.

The broader market outperformed the benchmark with BSE Midcap and Smallcap ending with losses of 0.9 percent and 0.6 percent, respectively. 

Amongst the sectoral indices, except consumer durables that ended with gains of 0.7 percent, all the other sector indices ended in red with auto, banking and metal being the top losers.

It looks like the market seems to have factored in a victory of NDA on May 23, but an adverse result could lead to steep correction in markets, suggest experts.