Nifty takes support near 5700; RCom, ONGC, L&T down

MUMBAI: Indian markets were witnessing yet another day of profit booking as disappointing Index of Industrial Production data for November put the bulls on the back foot. IIP dipped to 2.7 per cent against 10.8 per cent in October. ET Now poll expected the IIP to be around 6.6 per cent.

Most sectoral indices were in the red with capital goods, pharma and realty as major losses. Technology stocks edged higher ahead of Infosys Technology quarterly results.

At 1 pm; National Stock Exchanges Nifty was at 5731.30, down 22.80 points or 0.40 per cent. The broader index touched a high of 5815.75 and low of 5711.30 intraday.

Bombay Stock Exchanges Sensex was at 19094.85, down 101.49 points or 0.53 per cent. The 30-share index touched a high of 19379.55 and low of 19048.56 in trade so far.

BSE Midcap Index was down 0.28 per cent and BSE Smallcap Index moved 0.40 per cent lower.

Amongst the sectoral indices, BSE Capital Goods Index was down 1.61 per cent, BSE Healthcare Index slipped 1.19 per cent and BSE Realty Index moved 1.10 per cent lower. BSE IT Index gained 0.33 per cent.

Reliance Communications (-3.12%), ONGC (-2.88%), L&T (-2.55%), Bajaj Auto (-2.50%) and Dr Reddys Laboratories (-2.39%) were amongst the losers.

Suzlon Energy (7.16%), Sterlite Industries (3.28%), Cairn India (3.19%), Tata Motors (3%) and TCS (2.13%) were amongst the top Nifty gainers.

Market breadth was negative on the NSE with 1718 losers as compared to 1028 gainers.

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