Markets have reacted negatively post the announcement of November Inflation number which has come in at 9.11% vs 9.73 (MoM).
The data showed food inflation tumbled to 8.54% in November from more than 11% in October, while fuel inflation increased to 15.48% from 14.79% and manufacturing inflation increased marginally, to 7.7% from 7.66%.
By 1210 the Sensex was down 70 points at 15,932 and the Nifty plunged 24 points to 4,776.
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(Updated at 1107 hrs)
Benchmark Indices are trading slightly higher after a subdued start in opening trades tracking weak global cues. Investors are eyeing November monthly inflation numbers to be announced shortly.
Global stock markets are down as Federal Reserve delivered little hope that it would turn on easing anytime soon and following gloomy retail sales data. Asian markets are trading marginally lower.
Back home, by 1110 the Sensex was up 43 points at 16,046 and the Nifty had gained 10 points to 4,810.
Banks, Capital Goods and FMCG have advanced by nearly 1% each.
Amongst banks, SBI is the top gainer among Sensex stocks, surging by 2.45%. ICICI Bank and HDFC Bank have gained by 1% on hopes that the Reserve Bank of India would pause interest rate hikes at the policy meet scheduled for Friday.
In the Capital Goods space, L&T and BHEL have gained by 1% after being beaten down over the past few days after government data showed that the segment contracted over 25.5% in September.
However, defensives like HUL and ITC have gained 0.5-1.5%.
In the IT segment, Infosys, TCS, HCL Tech and Wipro are marginally higher as the Indian rupee has weakened and is trading at around 53.69 against dollar.
Amongst other shares, IFCI fell 3% on reports that the Parliament panel has found CEO Atul Rai accountable for suppressing facts.
3i Infotech plunged 3% after lenders and investors shunned debt laden company, reports sources.
Areva T&D crashed 23% after demerging its distribution (medium voltage) business operations into wholly-owned subsidiary, Smartgrid Automation Distribution and Switchgear Limited.
The market breadth in BSE remains healthy with 1227 shares advancing and 866 shares declining.
