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Markets ended lower on caution ahead of the CPI and IIP data. Decline in crude prices and geopolitical concerns dampened the sentiments of the market participants.
Provisionally, the 30-share Sensex ended down 251 points at 27,351 and the 50-share Nifty shed 65 points to close at 8,228.
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Markets edged lower in noon trades as investors booked profits on account of geopolitical concerns and steadily declining oil prices. Defensives were back in focus with FMCG and Health Care being the only green pockets at 1430 hrs.
The Sensex was down 204 points or 0.7% at 27,398 and the Nifty slipped 56 points or 0.7% at 8,237.
Broader markets too were under pressure with the mid and smallcap indices down nearly 1% each.
The rupee was at 62.35, after falling as much as 62.45, matching the session low hit on Feb. 20. Traders were on watch for RBI intervention via state-owned banks to support the Indian currency.
Investors are cautious ahead of CPI and IIP data. According to media reports, a business survey has estimated Index of Industrial Production (IIP) to increase to 2.8% for the month of October, 2014 compared to 2.5% in the same month last year and Consumer Inflation Index (CPI) to moderate to 4.5% in November, the slowest rate recorded since the data series was first published in 2012. The November CPI and October IIP data is due later today.
All the sectoral indices except FMCG and Health Care were in red with losses upto 2.3%.
Realty, Oil & Gas, Power, Metal, Capital Goods and Consumer Durables indices down 1-2.3% were the top sectoral losers.
GAIL, BHEL, Sesa Sterlite, Tata Steel, ONGC, TCS, Hindalco, HDFC and RIL down 2-6% were the top losers among Sensex-30.
Meanwhile, Bharti Airtel, Maruti, Sun Pharma, Infosys, HUL, Coal India and Hero MotoCorp up 0.3-1.5% were the only exceptions in green.
Bharti Airtel was the top Sensex gainer on media reports that the government is likely to include one slot for 3G services in the upcoming spectrum auction.
Sun Pharma gained on media reports, the company has started working on Competition Commission of India (CCI)'s order which had placed the condition of selling seven brands from the combined entity's portfolio within six months before the sun Pharma and Ranbaxy merger takes place. Cipla is trading with marginal gains.
The market breadth was negative on BSE. 1882 stocks declined while 927 stocks advanced.
Global Markets
Asian shares got a lift on Friday after upbeat U.S. spending data suggested weaker oil prices have some upside for the American economy. A spate of China data added up to more concerns for investors, with factory growth slowing more than expected last month to its second-worst reading since the global crisis and investment expansion hovering near a 13-year low.
MSCI's broadest index of Asia-Pacific shares outside Japan edged up about 0.1%, though on track for a loss of over 2% for the week.
Japan's Nikkei stock average ended up 0.7%, extending gains as the U.S. data lifted exporter shares, but booked a loss of 3.1% for the week.
