Indian markets continued to trade choppy during the late noon trading session with frontline gauges trading at their neutral lines as investors remained on sidelines ahead of the Industrial Production data (IIP) to be released later in the day.
At 14:07, the key domestic benchmark index was trading down by 11 points at 27561.94, while NSE Nifty was quoting 7 points higher at 8335.45.
May industrial output data which is scheduled to release after market hours will offer further directions over the health of Asia"s third biggest economy. Analysts expect factory growth to have remained steady at 4.1 per cent, year on year in May 2015.
Traders are also eying consumer price inflation (CPI) data which is expected to nudge up slightly in June.
However, losses remained capped as some support came after International Monetary Fund (IMF) in its World Economic Outlook Update has said that India will be the world"s fastest growing economy for the second consecutive year in 2016 at 7.5 per cent.
In the see-saw trade, the BSE Sensex touched an intraday high of 27729.46 and an intraday low of 27530.9, while the NSE Nifty touched an intraday high of 8376.35 and an intraday low of 8315.4.
Major laggards on the D-street included, Bharti Airtel Ltd. (Rs. 418.70,-3.28%), Hindustan Unilever Ltd. (Rs. 894.25,-2.81%), Tata Consultancy Services Ltd. (Rs. 2459.00,-2.47%), GAIL (India) Ltd. (Rs. 358.85,-2.43%), Oil And Natural Gas Corporation Ltd. (Rs. 292.00,-2.39%), among others.
Among the gainers were Vedanta Ltd. (Rs. 143.80,+3.45%), Sun Pharmaceutical Industries Ltd. (Rs. 889.75,+2.00%), Bharat Heavy Electricals Ltd. (Rs. 268.85,+1.70%), HDFC Bank Ltd. (Rs. 1088.00,+1.34%), Reliance Industries Ltd. (Rs. 999.55,+1.24%).
On the sectoral front, FMCG index lost ground, trading at 7661.67 down by -93.11 points or by -1.2%. Emami Ltd. (Rs. 1111.55,-5.17%), Vimal Oil & Foods Ltd. (Rs. 104.50,-4.57%), Ruchi Soya Industries Ltd. (Rs. 38.30,-4.49%), REI Agro Ltd. (Rs. 0.58,-3.33%), Tilak Nagar Industries Ltd. (Rs. 28.00,-3.28%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total 2712 shares traded, 1371 shares advanced, 1233 shares declined while 108 remained unchanged.
On the global front, European counters have made a firm start with CAC, DAX and FTSE, all were trading in green with a gain of around two percentage points in early deals.Asian markets ended the day on mixed note after Greece offered new reform proposals to creditors, raising hopes of a cash-for-reform deal at a weekend summit of European leaders.