The BSE Sensex and NSE Nifty ended the day down 82 points and 30 points respectively as India’s industrial production (IIP) rose less than estimated in December. Sensex closed at 17,748, while the Nifty closed at 5,381.
After opening in the red, the Indian markets corrected as investors awaited the IIP data. However, the markets slid again as the low growth figures signalled weak domestic demand.
Indian industrial production grew only by 1.8 per cent, which has been the slowest in two months. “Today’s market was affected by the IIP figures. Markets have always been forward looking and this is a temporary correction. The market will find its support sooner or later,” said Mr Gajendra Nagpal, Founder and CEO, Unicon Financial Intermediaries.
On the global front, the European stocks fell for the fourth time in five days as regional finance ministers held back their approvals to rescue Greece. European stocks were down 0.93 per cent. The Asian markets were also down nearly 0.70 per cent.
The top gainers on the BSE were Tata Steel, Bajaj Auto and Wipro while the top losers were Hindalco, Maruti and Mahindra and Mahindra.