Mumbai, Jan 11: A benchmark index for Indian equities markets was trading flat in the afternoon trade Friday as banks, fast moving consumer goods (FMCG) and oil and gas stocks fell.
The sobered sentiment came as the country’s industrial output contracted by 0.1 percent in November. The output was dragged down by deceleration in production in manufacturing, minning and electricity generation.
However, above expectations third quarter results of information technology (IT) major Infosys’ led a surge in the IT stocks. Infosys posted Rs.2,369 crore (Rs.23.69 billion) net profit for the third quarter (Oct-Dec) of this fiscal (2012-13).
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,813.64 points was at 19,714.91 points around 12.25 p.m. — up 51.36 points or 0.26 percent from its previous close at 19,663.55 points.
The BSE Sensex touched an intra-day high of 19,839.80 points and a low of 19,712.22 points.
The BSE midcap index was down 39.83 points, while the smallcap index was lower by 41.21 points.
The wider 50-scrip S&P CNX Nifty of the National Stock Exchange (NSE) was also trading flat — down 1.95 points or 0.03 percent at 5,970.60.
In the Sensex sectoral indices, bank index was down 123.70 points, followed by FMCG index, which was lower by 116.96 points and oil and gas index which fell by 100.73 points.
In terms of gainers, IT index zoomed ahead by 485.13 points, while the technology, media and entertainment (TECk) index was up 211.10 points and consumer durables index was up 83.69 points.
Among other Asian markets, Japan’s Nikkei was up 1.40 points, Hong Kong’s Hang Seng was lower by 0.45 percent and China’s Shanghai Composite Index was down 1.91 percent.