Markets fall post IIP data

Markets fall post IIP data
SI Reporter / New Delhi March 11, 2011, 11:37 IST
The markets whicvery narrow range in the last hour of trade, the Sensex traded in the range of 168 points. However post IIP numbers which were better-than-expected yet the markets slipped back into red.

The Sensex was lower by 80 points at 18,247 and the S&P CNX Nifty was at 5466 lower by 28 points.

The IIP data for the month of January which came in at 3.7% compared to 1.6% in the month of December. Basic Goods growth came in at 7.6% vs 11.5%  y-o-y, April to January IIP growth was recorded at 8.3% compared to 9.5% during the previous year.

Coming back to markets, Sterlite Industries was the top loser among the Sensex stocks, the stock was trading lower by nearly 2% to Rs 162. HDFC, Tata Steel, Reliance Communication, BHEL, Hindalco Industries, TCS and Bajaj Auto were also trading lower by 1-2% each. On the other hand ONGC continued to remain the top gainer followed by ITC, Tata Power, Hindustan Unilever, ICICI Bank, DLF and Larsen & Toubro.

BSE Metal index was the top sectoral loser, the index was lower by 166 points or 1% at 15,500, IT index was lower by 0.7% at 6197. Auto, Power and Capital Goods stocks remained under a mild selling pressure.
 While FMCG index remained the top gainer, up nearly 1% at 3523 points, Realty, Oil & Gas, Healthcare, PSU, Consumer Durables and Bankex indices were also trading in the green.

JSW Steel was the top loser among the metal stocks followed by Sterlite Industries, Tata Steel, Hindalco, Hindustan Zinc, Jindal Steel, SAIL and Sesa Goa.

Among the FMCG stocks Tata Global Beverages was the top gainer followed by United Breweries, GCPL, ITC, Colgate Palmolive and Hindustan Unilever.

The broader markets were trading on a flat note, the BSE mid-cap index was higher by 3 points at 6603 and the small-cap index was at 7992 higher by 2 points.