)
At 1PM, the Bombay Stock Exchange's 30-share index Sensex fell 70 points to trade at 19,567 while the National Stock Exchange's 50-share Nifty declined 23 points at 5,935.
India's gross domestic product (GDP) is estimated to grow an annual 5% in the fiscal year compared with 6.2% forecasted earlier, data showed Thursday, citing provisional estimates.
Last month, the RBI had pared the GDP growth estimate for the fiscal year ending in March to 5.5%, the worst since 2002-03.
Meanwhile, Asian markets traded weak as investors remained cautious ahead of the European Central Bank meeting later in the day.
ECB is expected to keep interest rates at a record low 0.75 percent while the main focus will be on any comments from ECB President Mario Draghi about the euro's recent strength as well as the bank's view on the euro zone economy.
Hong Kong's Hang Seng fell 0.415% to 23,162, Singapore's Straits Times declined 0.53% to 3,259, China's Shanghai Composite fell 0.69% to 2,418 and Japan's Nikkei dropped 0.9% to 11,357.
Back home, metal, real-estate, consumer durable, PSU, capital goods declined while IT sector rose on BSE.
Among key Sensex stocks, HDFC and HDFC Bank gained 1% and 0.1% respectively, Tatat Motors rose 0.7%, TCS and Infosys was up 0.5% each, Mahindra & Mahindra inched up 0.4% on BSE.
Among losers, Sterlite Industries and Jindal Steel fell 3.4% and 1.2% respectively, NTPC and Cipla declined 2.4%, Hero MotoCorp was down 1.6%, ICICI Bank and SBI shed 0.8% respectively on BSE.
The other key notable movers include, Jubilant Foodworks has surged 3% after foreign fund house Morgan Stanley Asia (Singapore) bought additional shares of the company for over Rs 37 crore on Wednesday.
NTPC fell 3%, extending its previous day’s 2.1% fall, after the government propose to offload its 9.5% stake in the company through the offer for sale (OFS) route.
The broader markets traded negative with mid-caps and small-caps falling 0.7-0.8% on BSE.
The market breadth is negative. Out of 2,682 stocks traded, 1,585 stocks declined compared to 964 advances on BSE.
