Mkts in negative terrain amid choppy trade
The benchmark indices continue to trade lower amid choppiness. Selling is seen in technology, oil & gas exploration stocks as well as Bharti Airtel, BHEL, ICICI Bank, Maruti and Ranbaxy Labs.
However, power, cement stocks and stocks like SBI, Reliance Communication, M&M, HDFC and Tata Motors are supporting the benchmark indices.
The Sensex was trading at 9,544, down 74 points and the Nifty was at 2,913, down 12 points, at 12:26 hours IST. However, BSE Midcap and Small Cap indices gained over 1-1.5%.
December IIP numbers came in negative 2% versus 8% (YoY) and November industrial growth also revised to 1.7% vs 2.4%, which have not impacted markets because it seems that it was already factored in.