The benchmark indices are having a dull session in the absence of any triggers on both, the domestic and global fronts. With the marginal gains in the IT and oil sector being negated by the pressure on the auto and metal indices, the Sensex is quoting at 20010, lower by four points and the Nifty is at 5987, up two points. The broader markets are equally listless, with the midcap index placed at 7612, lower by 12 points and the smallcap index at 9344, up six points.
The indices had snapped a three-day winning streak in the previous session.
Meanwhile, Asia mostly ended lower, with the markets in China, Hong Kong and Indonesia dropping nearly 1% each. Markets brushed off the modestly higher leads from Wall Street after data showed the US economy expanded faster than previously expected. Shanghai Composite dropped 0.79% to 2,855 as the government tightened controls on foreign investment in property and a measure of lending costs between banks rose to the highest in three years and Hang Seng ended down 0.62% at 22,903.
On the macro-economic front, the food price index rose 12.13% and fuel price index climbed 10.74% in the year to December 11. In the earlier week, annual food and fuel inflation stood at 9.46% and 10.67% respectively. The primary articles price index was up 15.35% in the latest week compared with an annual rise of 13.25% a week earlier.
The IT and banking space is standing out in this afternoon's trades. In the IT index, Infosys has hardened by 0.7% at Rs 3362. And the banking space is seeing the likes of HDFC Bank gaining 0.4% at Rs 2188 and SBI adding 0.3% at Rs 2754.
The metals index, which has been on an upmove in the recent past, is witnessing profit-booking in today's session. Hindalco has shed 1.6% at Rs 234 and Tata Steel has lost 1.4% at Rs 662. The auto space is also moving in tandem; Tata Motors has slid by 1% at Rs 1351 and M&M has lost 0.6% at Rs 752.
The market breadth is mildly positive. Out of 2912 stocks traded on the BSE, there were 1505 advancing stocks as against 1397 declines.