MUMBAI (Commodityonline): Indian bourses opened tad lower amid weak global cues.However, indices soon rcovered in positive territory led by Metal stocks. Indices remained choppy and lackluster ahead of IIP numbers.
India's December (IIP) index of industrial production came in at 1.8% against 5.9% on month on month basis. For the same period manufacturing secor output stood at 1.8% against 8.7%.
Markets draged in afternoon session back of disappointing IIP data. Weak European cues also put pressure on local markets. Realty, Pharma and Oil & Gas stocks put the pressure on indices.
Markets remained marginally negative. Both Midcap and Smallcap indices closed almost flat. Benchmark indices ended half precent lower in today's session while gain 0.8% this week.
BSE Sensex closed at 17748.69 with the loss of 82.06 points and at NSE Nifty closed at 5381.60 with the loss of 30.75 points at the end of the day. BSE MIDCAP index closed at 6241.66 with the gain of 7.04 points and BSE SMALLCAP index closed at 6890.85 with the loss of 1.64 points.
In percentage terms key losers were Hindalco Industries Ltd (NSE: HINDALCO), Ambuja Cements Ltd (NSE: AMBUJACEM) and Reliance Infrastructure Ltd (NSE: RELINFRA) while key gainers were Tata Steel Ltd (NSE: TATASTEEL), Steel Authority of India Ltd (NSE: SAIL) and Sesa Goa Ltd (NSE: SESAGOA).
On sectoral front almost all the sectoral indices closed in red barring Metal sector closed marginally in green. Major selling was seen in Realty, Oil & Gas, Pharma and Banking & Financial sectors. Market breadth on BSE remained negative were 1403 advances against 1569 declines stocks.
From the perspective of weight in Nifty key losers were Reliance Industries Ltd (NSE: RELIANCE), ICICI Bank Ltd (NSE: ICICIBANK) and Infosys Ltd (NSE: INFY) while key gainers were Tata Steel Ltd (NSE: TATASTEEL) Bajaj Auto Ltd (NSE: BAJAJ-AUTO) and Steel Authority of India Ltd (NSE: SAIL).
Courtesy: www.makemystocks.com
