Markets ignore lower IIP nos

The lower-than-expected IIP numbers seem to have no impact on the markets as of now. India's industrial output in June rose at a slower-than-expected 7.1% from a year earlier, its slowest pace in 13 months, government data showed on Thursday.

However, the markets continue to move in the same trading range between the day's open and low so far. The Asian markets too seem to be static with the Hang Seng and Nikkei trading close to its opening values. The Sensex is at 17,962 down 102 points and the Nifty is down 34 points at 5,386.

Among the BSE Sectoral Indices, Consumer Durables has gained 0.5% followed by a static Health Care index up 0.3%. However, PSU index has lost some of its initial gains while Realty has moved up 0.1% after a bad start. BSE Teck index has extended its losses and is down 1% in line with metal and IT indexes.

The major propellers in the Consumer Durables space are Gitanjali Gems up nearly 2% followed by Titan Industries gaining 1.5%.

On the Sensex, the major gainers are Hindustan Unilever adding 2.5% at Rs 267 followed by ONGC up nearly 2% and SBI up 1%.

On the other hand, the major loser on the Sensex is Sterlite which lost 2%. Wipro, Infosys, Jaiprakash Associates and Reliance Infrastructure continues to be down 1% each.

The market breadth reamins negative - 1,552 stocks declining in comparision to 1,152 advances.