The Indian benchmark indices so far remained lackluster after a weak opening of the day, as the risk appetite was eaten up by S&P"s downgrade of 9 European nations on Friday. With the new credit ratings, it has been assured that euro-zone worries are far from over soon. However the only silver lining for Indian markets came out as headline inflation that slipped to 7.5 per cent for the month of December. The ease in inflation widely expected by markets might also force RBI to reverse monetary policy this month. After inflation data, some moderate recovery could be seen in Indian markets that was also triggered by bargain hunting in IT stocks, which tumbled last week on Infosys" weak outlook statements.
At 12:38PM BSE SENSEX was at 16126.39 down by 28.23 points or by 0.17 % and then NSE Nifty was at 4847.75 down by 18.25 points or by 0.38 %.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2578 , shares advanced were 1178 while 1285 shares declined and 115 were unchanged.
The BSE MIDCAP was at 5565 down by 17.34 points or by 0.31 %. while the BSE SMLCAP was at 6183.19 up by 11.44 points or by 0.19 %.
The top losers of the BSE Sensex pack were Reliance Industries Ltd. (Rs. 717.55,1.98%), DLF Ltd. (Rs. 192.85,1.91%), Hindustan Unilever Ltd. (Rs. 385.50,1.72%), NTPC Ltd. (Rs. 163.15,1.69%), HDFC Bank Ltd. (Rs. 462.00,1.56%), among others.
In BSE, BSE Oil&Gas index was at 7721.16 down by 100.61 points or by 1.29%. Reliance Industries Ltd. (Rs. 717.55,1.98%), Petronet LNG Ltd. (Rs. 154.60,1.31%), GAIL (India) Ltd. (Rs. 368.90,1.22%), Gujarat State Petronet Ltd. (Rs. 78.00,1.14%), Indian Oil Corporation Ltd. (Rs. 265.00,0.82%).
In BSE, BSE_Bankex index was at 10175.45 down by 125.04 points or by 1.21%. Union Bank of India (Rs. 183.00,3.66%), Kotak Mahindra Bank Ltd. (Rs. 459.00,2.79%), IndusInd Bank Ltd. (Rs. 274.45,2.16%), Bank of India (Rs. 296.00,1.84%), Axis Bank Ltd. (Rs. 923.45,1.72%).