An earnings-led consolidation or mild correction is required and likely in the next few weeks," said Aneesh Srivastava, chief investment officer at Esquire Capital Advisors. Nifty constituents Adani Enterprises and Adani Ports rose 2.77% and 1.44%, respectively, after group chairman Gautam Adani announced a $24 billion investment in five years in green energy and renewable energy in the state of Gujarat. Adani Green Energy gained 2.37%. The Nifty laggards included ONGC and Bharat Petroleum, which along with Hindustan Petroleum and Indian Oil slid 1.0%-2.2% after Goldman Sachs downgraded the stocks on earnings and valuation concerns.