 "Markets consolidate; June WPI eases to four-month low")
Markets edged lower in early noon deals on account of weakness in IT heavyweights, retreating further after posting its biggest weekly loss since December 2011. Also, investor sentiments were dampened after foreign institutional investors sold Indian shares worth 7.23 billion rupees ($120.60 million) on Friday.
At 1215 hrs, the Sensex was down 61 points at 24,963 and the Nifty slipped 18 points to trade at 7,442.
The broader markets were weak with the smallcap index down over 0.5% and the midcap index gave off nearly 0.3%, underperforming the BSE benchmark index.
Sectors & Stocks
Consumer Durables, IT and Teck indices down 1-2% were the major sectoral losers.
FMCG and Health Care indices down 0.5% were the other notable indices in red.
Banking shares mainly public sector undertaking (PSUs) are trading higher by up to 4% in otherwise subdued market, partially rebounding from a sharp seven-day decline.
Oriental Bank of Commerce, Andhra Bank, Syndicate Bank, Allahabad Bank, IDBI Bank, Bank of India and Union Bank of India are up 2-4%, while State Bank of India, Punjab National Bank, Indian Overseas Bank and Canara Bank are gain up to 2%.
The top Sensex gainers of the hour were Hindalco, Tata Power, TCS, Tata Steel and Axis Bank up 1% each.
Among the ones in red were IT heavyweights like Infosys and Wipro along with Sesa Sterlite, Bharti Airtel, Coal India, HUL, Cipla and Dr Reddys Lab, all down 1-3%.
In individual stocks, Advani Hotels and Resorts (India) has hit the upper circuit of 20% at Rs 51.60 on reports that ITC Hotels could be close to buying its property in Goa.
The market breadth was negative on BSE. 1,526 stocks declined while 937 stocks advanced.
At 1215 hrs, the Sensex was down 61 points at 24,963 and the Nifty slipped 18 points to trade at 7,442.
The broader markets were weak with the smallcap index down over 0.5% and the midcap index gave off nearly 0.3%, underperforming the BSE benchmark index.
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Meanwhile, WPI inflation eased to a four-month low of 5.43% in June from 6.01% last month as food prices cooled a little, according to data released today. April WPI inflation was revised to 5.55% compared to 5.20% previously.
Sectors & Stocks
Consumer Durables, IT and Teck indices down 1-2% were the major sectoral losers.
FMCG and Health Care indices down 0.5% were the other notable indices in red.
Banking shares mainly public sector undertaking (PSUs) are trading higher by up to 4% in otherwise subdued market, partially rebounding from a sharp seven-day decline.
Oriental Bank of Commerce, Andhra Bank, Syndicate Bank, Allahabad Bank, IDBI Bank, Bank of India and Union Bank of India are up 2-4%, while State Bank of India, Punjab National Bank, Indian Overseas Bank and Canara Bank are gain up to 2%.
The top Sensex gainers of the hour were Hindalco, Tata Power, TCS, Tata Steel and Axis Bank up 1% each.
Among the ones in red were IT heavyweights like Infosys and Wipro along with Sesa Sterlite, Bharti Airtel, Coal India, HUL, Cipla and Dr Reddys Lab, all down 1-3%.
In individual stocks, Advani Hotels and Resorts (India) has hit the upper circuit of 20% at Rs 51.60 on reports that ITC Hotels could be close to buying its property in Goa.
The market breadth was negative on BSE. 1,526 stocks declined while 937 stocks advanced.