The key Indian stock indices have managed to hold on to modest gains in late morning trade despite a disappointing report on industrial production for the month of July. The BSE Sensex and the NSE Nifty are just marginally higher. The Nifty has managed to stay above the crucial 5,400 mark. The overall market breadth is positive on the back of decent gains in the broader indices.
At 11:15am (IST), the BSE Sensex was trading at 17,923, up 70 points over the previous close. It had earlier touched a day's high of 17,953 and a day's low of 17,904. It opened at 17,916.
The NSE Nifty was quoting at 5,405, up 15 points over the previous close. It earlier touched a day's high of 5,417 and a day's low of 5,401. It opened at 5,404.
RIL, Infosys, Wipro, TCS, Tata Power, HDFC Bank, ONGC, ICICI Bank, L&T, Sun Pharma, Coal India, Tata Steel, Maruti Suzuki, HUL, Tata Motors are among gainers in BSE Sensex and Nifty.
Bharti Airtel, BHEL, Hero MotoCorp, ONGC, NTPC are among losers in BSE Sensex and Nifty.
The BSE Small-Cap index and BSE Mid- Cap index was trading at 1%.
PSU, Metal, FMCG, Auto, IT, Teck, Capital Goods,Bankex indices are the gainers.
HC, Power and Oil and Gas indices are the losers.
Barring Power, Pharma and Oil & Gas indices, most other sectoral plays are trading in the positive zone. Auto, Banking, Realty and IT indices are the top leaders so far. The remaining sectoral indices on the BSE are trading slightly higher as well.
India's industrial production barely moved in July, as weakness persisted in the critical areas of the economy such as manufacturing, mining and capital goods amid sticky inflation, high interest rates, fragile currency, global slowdown and policy paralysis.
IIP for July 2012 came in at 0.1% versus expectations of 0.5% growth.
Meanwhile, June's IIP was left unchanged at -1.8%.
The cumulative growth for the period April-July 2012-13 over the corresponding period of the previous year stands at (-) 0.1%.
