Weakness continued on the bourses as key benchmark indices languished in negative zone in mid-morning trade in the wake of weak October industrial production data. At 10:18 IST, the barometer index, the S&P BSE Sensex, was down 135.62 points or 0.51% at 26,611.56. The Nifty 50 index was currently down 55.55 points or 0.67% at 8,206.20.
India's industrial production declined 1.9% in October 2016 over October 2015. Twelve out of 22 industry groups in the manufacturing sector showed negative growth in October 2016. The data was released by the government after market hours on Friday, 9 December 2016.
The market breadth, indicating the overall health of the market, was negative. On the BSE, 1,109 shares declined and 980 shares rose. A total of 108 shares were unchanged.
The BSE Mid-Cap index was currently down 0.61%. The decline in this index was higher than the Sensex's decline in percentage terms. The BSE Small-Cap index was currently off 0.22%. The decline in this index was lower than the Sensex's decline in percentage terms.
Realty stocks were mixed. D B Realty (down 2.7%), Sobha (down 1.56%), Housing Development & Infrastructure (down 1.2%), Unitech (down 1.04%) and DLF (down 1.09%) edged lower. Oberoi Realty (up 2.34%), Prestige Estates Projects (up 1.02%), Godrej Properties (up 0.28%) and Indiabulls Real Estate (up 0.63%) edged higher.
IT stocks were in red. Infosys (down 1.56%), Wipro (down 1.05%), Oracle Financial Services Software (down 1.04%), HCL Technologies (down 0.88%), Persistent Systems (down 0.65%) and Tech Mahindra (down 0.7%) edged lower. TCS (up 0.11%) edged higher.
Jaiprakash Associates dropped 1.65% at Rs 7.74 after the company reported net loss of Rs 781.20 crore in Q2 September 2016 compared with net loss of Rs 547.22 crore in Q2 September 2015. Total income declined 43.87% to Rs 1437.09 crore in Q2 September 2016 over Q2 September 2015. The result was announced on Saturday, 10 December 2016.
Titagarh Wagons rose 4.43% at Rs 119.15 after the company said it has received an order from Indian Navy for construction of two fuel barges. The announcement was made on Saturday, 10 December 2016.
Overseas, Asian stocks witnessed a mixed trend. In Japan, the Nikkei 225 index was currently up 0.98%. Japan's October core machinery orders rose for the first time in three months to beat expectations, government data showed. Core orders, regarded as an indicator of capital spending in the coming six to nine months, rose 4.1% in October from the previous month.
US major stock indices continued their recent winning streak, closing at all-time highs on Friday, 9 December 2016. All major indexes have been hitting record highs since the election amid hopes that the Trump administration will usher in tax cuts, deregulation and fiscal stimulus.
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