The market remains quite subdued this afternoon with investors mostly moving on to the sidelines following dismal industrial production data. A lack of triggers from global markets too contribute to the lackluster trades on the Indian bourses.
Amid alternate bouts of buying and selling in front line stocks, the Sensex is now down with a loss of 37.50 points or 0.2% at 18,646.18, nearly 40 points off the day's low of 18,607.66.
The Nifty is down 6.35 points or 0.1% at 5679.80, off the day's low of 5665.75.
Metal, bank and oil stocks are mostly trading lower. Select information technology and bank stocks have moved up on modest buying support.
Among the stocks in the Metal index, NMDC and Tata Steel are down 1.8% and 2%, respectively. Coal India, Hindalco, Hindustan Zinc, Jindal Steel & Power and SAIL are trading lower by 0.5% - 1.3%. JSW Steel and Sesa Goa are bucking the trend and trading notably higher. Sterlite Industries is up marginally.
In the oil & gas index, BPCL, GAIL India, ONGC and Reliance Industries are trading lower by 0.6% - 1%. Gujarat State Petronet, Indian Oil Corporation and Petronet LNG are down with modest losses, while Cairn India and Oil India are up marginally.
Thermax, Alstom T&D, Crompton Greaves, Larsen & Toubro, Punj Lloyd and Suzlon Energy are among the notable losers in the capital goods space. BHEL, Bharat Earth Movers, Jindal Saw and Praj Industries are up in positive territory with modest gains.
Among bank stocks, heavyweight State Bank of India is up 1.7%. HDFC Bank is up by a little over 1% and ICICI Bank is trading flat. Axis Bank, Bank of Baroda, Canara Bank, IndusInd Bank and Union Bank of India are trading firm.
IT heavyweights Infosys and Tata Consultancy Services are up 0.5% and 0.8%, respectively. Tech Mahindra, HCL Technologies and Mphasis are up with modest gains, while Financial Technologies is up nearly 5%.
IDFC is trading 2.2% up on strong buying at the counter. Bharti Airtel, Jaiprakash Associates and Power Grid Corporation are also trading firm.
DLF is down 2.4%. Tata Power, Hero Motocorp, Ranbaxy Laboratories, Siemens, Maruti Suzuki and ITC are trading lower by 1% - 1.6%.
According to the data released by the government today, retail inflation, measured by Consumer Price Index, increased marginally to 9.75% in October 2012 from 9.73% in September 2012.
In rural areas, consumer price inflation increased to 9.98% in October from 9.79% in September, while in urban areas it was at 9.46% in October against 9.72% in September, showed the data released by the government today.
According to the data released by the Ministry of Commerce & Industry, India’s exports declined for the sixth consecutive month by 1.6% to $23.2 billion in October 2012, against $23.6 billion in the corresponding month of the previous year. Imports in October this year rose by 7.37% to $44.2 billion, compared with $41.1 billion in October 2011.
Trade deficit for the first seven months of 2012-13 was at $110 billion against $106.8 billion in the corresponding period of last year, showed the data released by the Ministry.