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
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
, Maruti Suzuki
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.