Markets tumble post IIP data

The markets are trading at the day's low in noon deals after the much awaited September IIP data was released.

The Sensex has so far shed 160 points to 20,429 levels, and the Nifty is hovering at 6150 – down 43 points.

The September industrial production grew by 4.4% as compared to 8.2% in the previous year. Manufacturing sector growth came in at 4.5% compared to 8.3% in the same period previous year. The biggest disappointment came from electricity sector, which grew by 1.7% compared to 7.4% in the previous year.

Among the BSE 30 pack, Bharti Airtel is the top loser that is trading nearly 4% down at Rs 304, followed by DLF, Hindalco Industries, RCom, Jindal Steel and ICICI Bank. On the other hand, HDFC, Cipla, NTPC, Sterlite Industries, and Hero Honda are the significant gainer among the Sensex stocks.

The broader markets have also slipped into the red. The BSE Mid-cap index is down 47 points at 8584 and Small-cap index has shed 15 points at 11,175. The BSE 500 market breadth is negative, as 327 stocks are declining while 167 stocks are advancing.

The sectoral picture is also looking bleak with all indices trading in the red. The BSE Realty index is the top loser that has shed more than 2.4% at 3584, followed by Consumer Durables, Metal, Bankex and Tech indices.

Unitech, Peninsula Land, D B Realty, DLF and Phoenix Mills are among the top losers among the Realty stocks.

The overall market breadth is negative with 1513 stocks declining and 1284 stocks advancing.