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Markets slip into red on weak IIP numbers

SI Reporter  |  Mumbai 

As a knee jerk reaction to  the weak IIP numbers, the Sensex has slipped into the red and is currently trading down 101 points at 19,095 and the Nifty lost 25 points to trade at 5,728. In the broader markets, the smallcap is down 0.2% and the midcap slipped 0.1% is ouperforming as compared to the benchmark index down 0.5%.

India's industrial output in November rose a slower-than-expected 2.7% from a year earlier, well below the previous month's revised annual growth of 11.3%, government data showed.

On the BSE sectoral charts, Bankex, Consumer Durables and It are the only indices in the positive. Capital goods, Health care, Oil & gas, Power and realty are down 1% ecah.

Tata Motors up nearly 3%, Sterlite, ICICI Bank, TCS and SBI  gaining 1% each are the only gainers on the Sensex.

Reliance Communications, Tata Steel and L&T down 3% are the top losers followed by Bajaj Auto, ONGC,Cipla, Tata Power, NTPC and Wipro shedding 2% each are the other noteable losers.

The market bredath is negative. 1558 stocks have declined while 1065 have advanced.

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First Published: Wed, January 12 2011. 11:44 IST