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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.
