MUMBAI: At 12.20 pm, Sensex was down 111.05 points at 19085.29 and the Nifty was 24.85 points down at 5729.25.
The dismal industrial output figure of 2.7 per cent in the month of November had its impact on the markets with Nifty erasing all its early gains. Stocks of auto, oil and gas and healthcare firms pulled the markets down.
In the morning session, Sensex recovered by over 183 points in the opening trade, snapping its six-session losing streak, on selective buying by funds, and a firm trend on the other Asian bourses.
The Sensex, which had lost nearly 1,365 points in last six sessions, rose by 183.21 points to trade at 19,379.55 with banking, IT, oil and gas and realty sectors leading the rebound.
Similarly, the broad-based National Stock Exchange index Nifty, shot up by 61.65 points to 5,815.75 points.
Marketmen said fresh spell of buying by funds and retail investors, supported by a firming trend on the other Asian bourses after overnight gains on the US market, influenced the trading sentiment here.
They said, however, cautious approach ahead of November industrial output data to be announced today and fears of a hike in interest rates by the Reserve Bank of India, capped the gains.
In the Asian region, the Hong Kong's Hang Seng was up by 0.89 per cent, while Japanese Nikkei gained 0.51 per cent in the morning trade today.
The US Dow Jones Industrial Average ended 0.30 per cent higher in yesterday's trade.
Read more: Markets slip post disappointing IIP result - The Times of India http://timesofindia.indiatimes.com/business/india-business/Markets-slip-post-disappointing-IIP-result/articleshow/7265754.cms#ixzz1AonYOIgP
The dismal industrial output figure of 2.7 per cent in the month of November had its impact on the markets with Nifty erasing all its early gains. Stocks of auto, oil and gas and healthcare firms pulled the markets down.
In the morning session, Sensex recovered by over 183 points in the opening trade, snapping its six-session losing streak, on selective buying by funds, and a firm trend on the other Asian bourses.
The Sensex, which had lost nearly 1,365 points in last six sessions, rose by 183.21 points to trade at 19,379.55 with banking, IT, oil and gas and realty sectors leading the rebound.
Similarly, the broad-based National Stock Exchange index Nifty, shot up by 61.65 points to 5,815.75 points.
Marketmen said fresh spell of buying by funds and retail investors, supported by a firming trend on the other Asian bourses after overnight gains on the US market, influenced the trading sentiment here.
They said, however, cautious approach ahead of November industrial output data to be announced today and fears of a hike in interest rates by the Reserve Bank of India, capped the gains.
In the Asian region, the Hong Kong's Hang Seng was up by 0.89 per cent, while Japanese Nikkei gained 0.51 per cent in the morning trade today.
The US Dow Jones Industrial Average ended 0.30 per cent higher in yesterday's trade.
Read more: Markets slip post disappointing IIP result - The Times of India http://timesofindia.indiatimes.com/business/india-business/Markets-slip-post-disappointing-IIP-result/articleshow/7265754.cms#ixzz1AonYOIgP
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