Weakness worries the investors as Asian stocks and US index futures tumbled after proposal to bail out the US auto industry failed get confidence vote in the Senate. Further, corporate news has added to worries about global crisis. India''s industrial production declined 0.4% in October 2008, as compared to an upwardly revised 5.5% growth in September 2008, data released by the government today, 12 December 2008, showed. Manufacturing production fell 1.2% in October 2008 from a year earlier.
On the sectoral front, traders off-loaded positions across the sectors. Outsourcing firms slumped on fears of weak global economy that would cut the amount firms spent on technology. Further, the proposed deregulation of fuel prices, will provide full freedom to oil companies to set petrol and diesel prices. Some amount of profit booking is seen in Metal, Tech and Realty stocks.
The market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,241 stocks traded so far, 1,192 shares advanced while 962 shares declined. Nearly 87 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 147.33 points at 9,498.13 and NSE Nifty is down by 52.25 points at 2,867.90.
The BSE Mid Cap is trading higher by 18.12 points at 3,021.20 and Small cap is trading up by 36.97 points at 3,480.56.
Losers from the BSE Sensex Pack are Wipro lower by (5.92%) at Rs.235.20 along with Tata Motors by (5.54%) at Rs.151.65, TCS by (5.27%) at Rs.480.90, Tata Steel by (3.88%) at Rs.209.40, Infosys Tech by (3.40%) at Rs.1,097.40, ONGC by (3.38%) at Rs.642.50 and Satyam Comp by (3.08%) at Rs.217.45 among others.
The BSE IT index is lower by 86.83 points or (3.68%) at 2,272.37. Stocks trading lower are HCL Ltd by (7.18%) at Rs.107.25 along with Wipro by (5.92%) at Rs.235.20, TCS by (5.27%) at Rs.480.90, Financ Tech by (3.60%) at Rs.480.50, Infosys Tech by (3.40%) at Rs.1,097.40 and NIIT by (3.31%) at Rs.24.80.
The BSE Metal index is lower by 101.38 points or (1.93%) at 5,151.73. Stocks trading lower are NALCO down by (7.27%) at Rs.181.80, JSW Steel by (5.74%) at Rs.226.00, Sterlite Ind by (3.58%) at Rs.284.50 and Tata Steel by (3.37%) at Rs.210.50.
On the sectoral front, traders off-loaded positions across the sectors. Outsourcing firms slumped on fears of weak global economy that would cut the amount firms spent on technology. Further, the proposed deregulation of fuel prices, will provide full freedom to oil companies to set petrol and diesel prices. Some amount of profit booking is seen in Metal, Tech and Realty stocks.
The market breadth, indicating the overall strength of the market, was strong. On BSE, out of 2,241 stocks traded so far, 1,192 shares advanced while 962 shares declined. Nearly 87 shares are unchanged.
At 1.30PM, the BSE Sensex is trading lower by 147.33 points at 9,498.13 and NSE Nifty is down by 52.25 points at 2,867.90.
The BSE Mid Cap is trading higher by 18.12 points at 3,021.20 and Small cap is trading up by 36.97 points at 3,480.56.
Losers from the BSE Sensex Pack are Wipro lower by (5.92%) at Rs.235.20 along with Tata Motors by (5.54%) at Rs.151.65, TCS by (5.27%) at Rs.480.90, Tata Steel by (3.88%) at Rs.209.40, Infosys Tech by (3.40%) at Rs.1,097.40, ONGC by (3.38%) at Rs.642.50 and Satyam Comp by (3.08%) at Rs.217.45 among others.
The BSE IT index is lower by 86.83 points or (3.68%) at 2,272.37. Stocks trading lower are HCL Ltd by (7.18%) at Rs.107.25 along with Wipro by (5.92%) at Rs.235.20, TCS by (5.27%) at Rs.480.90, Financ Tech by (3.60%) at Rs.480.50, Infosys Tech by (3.40%) at Rs.1,097.40 and NIIT by (3.31%) at Rs.24.80.
The BSE Metal index is lower by 101.38 points or (1.93%) at 5,151.73. Stocks trading lower are NALCO down by (7.27%) at Rs.181.80, JSW Steel by (5.74%) at Rs.226.00, Sterlite Ind by (3.58%) at Rs.284.50 and Tata Steel by (3.37%) at Rs.210.50.
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