INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Market took a pause after three successive sessions of bullish run and tumbled in early trade on Friday in the wake of weak
global sentiment arising from the concerns of slowing global growth.
A set of data that showed a slowdown in China's economy fanned worries
that the world's second largest economy was witnessing an economic slowdown.
China’s November retail sales grew at their weakest pace
since 2003 and industrial output rose the least in nearly three years as domestic demand softened further, underlining rising risks to the
economy as China works to defuse a trade dispute with the United States, Reuters reported
Besides, participants assessed European Central Bank's (ECB) decision to end the 2.6 trillion euro bond, with a promise of further economic
stimulus, which portrayed an ambiguous picture of confidence about growth and concerns over rising uncertainty.
After a taking a plunge of
over 115 points, Sensex recovered slightly, taking strength from the slump in crude oil prices globally.
Around 9:30 am, the BSE Sensex was
51 points, or 0.14 per cent, down at 35,879, while the Nifty was 10 points, or 0.09 per cent, down at 10,781
BSE Midcap was trading with a gain of 0.13 per cent while the BSE Smallcap were trading flat.
Bharti Airtel, Infosys, Asian Paints, HDFC
Bank and Tata Steel were among the gainers in the Sensex index.
However, most auto stocks, including Hero MotoCorp and Maruti Suzuki
featured among the top losers in the index.
From market leader Maruti Suzuki to luxury vehicle maker Jaguar Land Rover, automakers have
lined up steep discounts to lure buyers and clear year-end inventory, ahead of the impending price hikes in January
Most public sector bank stocks were trading with gains after reports that the government is considering additional capital infusion of up
to Rs 30,000 crore in public sector banks.
From the sectoral indices on BSE, energy, pharma and consumer durables were under pressure, but
telecom and realty pack were catching investors' attention
