 "Broader markets outperform; Jindal Steel up 3.5%")
The ones weighing on the indices were losses in HDFC, ITC, Dr Reddys and NTPC.
However, there was some strength in the broader markets with the mid and smallcap indices up 0.4% each, both outperforming the Sensex which was down 0.1%.
On the sectoral front, Metal, IT, Capital Goods, Teck, Power and Consumer Durables were the only indices in the green, with gains between 0.1-0.8%.
FMCG and Bankex indices down 0.3% each were the major losers.
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(Updated at 1030 hrs)
It was a negative start for market tracking weak Asian markets amid other global cues. Key benchmarks pared some of initial losses as Nifty regains 6200 territory.
Asian stocks are under pressure on Tuesday after rallying for eight days after robust US manufacturing data yet again fuelled fears that the US Federal Reserve may scale back its stimulus sooner than anticipated.
At 9:32am, the 30-share Bombay Stock Exchange (BSE) Sensex is 22 points lower at 20,876 levels while broader 50-share Nifty of the National Stock Exchange (NSE) was at 6205 down 12 points in early trades.
After contracting for three consecutive months, manufacturing activity saw an eight-month high expansion in November on rising domestic orders, according to the widely-tracked HSBC Purchasing Managers’ Index (PMI).
The HSBC PMI for manufacturing stood at 51.3 points in November, up from 49.6 points in October this year. A reading below 50 indicates contraction, while one above it shows expansion. An uptick in merchandise exports coupled with a dip in imports saw India’s current account deficit sharply narrowing to 1.2 % of GDP in the second quarter.
Finance Minister P Chidambaram on Monday said the country is going through a period of stress, but there is clearly a ground for optimism adding that he hopes things will become better in the second half of the current financial year.
Asian markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.13% while the Hang Seng is down 0.63%. The Nikkei 225 is not trading.
The Dow Jones was off 77.64 points, or 0.48%, to close at 16,008.77, while S&P 500 declined 4.91 points, or 0.27%, to close at 1,800.90. The Nasdaq Composite Index fell 14.63 points, or 0.36%, to close at 4,045.26.
Back home, top Sensex gainers at this hour are TCS, L&T, GAIL, Jindal Steel, BHEL and Sun Phrarma which are up 0.3-2.4% while ICIC Bank, HDFC, ITC, HDFC Bank and Reliance are the top losers.
Capital Goods is leading the sectoral indices on the BSE and is up 1% in early trades followed by Healhcare and IT which are up 0.4%, TECk and Power are the other gainers
Dollar earning IT companies will remain in focus post positive economic data coming out of US.
Eicher Motors has entered into the list of top 100 most valuable companies in terms of the market captialisation (m-cap) after a sharp rise in market price of the two-three wheelers maker.
Shares of Eicher Motors have rallied 3.6% to Rs 5,190, extending it’s nearly 20% rally in past on week, in otherwise subdued equity market.
The stock touched its record high today. The scrip has appreciated by 82% so far in current calendar year (CY) 2013, as compared to 7.5% rise in benchmark S&P BSE Sensex.
Alstom T&D India is trading higher by 2.2% at Rs 187.20 after the company said it has received order worth of Rs 79 crore from the state-run Power Grid Corporation of India (PGCIL) for supplying equipment at substations in Uttar Pradesh.