Eight out of the 11 sectoral indices on the NSE were trading in the negative territory.
Domestic stock markets swung between gains and losses on Wednesday after starting the session on a flat note.
The S-P BSE Sensex rose as much as 102.09 points to touch 40,447.17 on the upside before sliding as much as 168.06 points to hit 40,279.11 on the downside at the weakest level in morning deals.
The NSE Nifty index swung 51.35 points in a range of 11,895.45-11,946.80.
Investors awaited the outcome of a Cabinet meeting and the release of macroeconomic data due later in the day.
Here are 10 things to know about stock markets today:At 11:10am, the Sensex traded 16.36points - or 0.04per cent - lower at 40,328.72 while the Nifty was down 6.10points - or 0.05per cent - at 11,907.35.Top percentage laggards on the 50-scrip index at the time were GAIL, Zee Entertainment, Adani Ports, Grasim and Dr Reddy's Laboratories, trading between 1.39per cent and 3.80 per cent lower.ICICI Bank, Infosys and HDFC Bank were the top drags on Sensex.Eight out of the 11 sectoral indices on the NSE tradedin the negative territory.
Auto, metal and IT stocks, however, tradedhigher at that time.According to analysts, weak factory output numbers and negative cues from other Asian equities weighed on investors' sentiment.
India's industrial production shrank by 4.3 per cent in September, registering the weakest performance in seven years due to output decline in manufacturing, mining and electricity sectors, according to official data released on Monday."Investors are now expecting details about stake sale in some PSUs from today's Cabinet meeting," said AKPrabhakar, head of research at IDBI Capital.Asian stocks and Wall Street futures fell on Wednesday, as growing worries that US-China trade talks are stalling and concern about intensifying unrest in Hong Kong hurt demand for risky assets.Britannia Industriesshares jumped nearly 6 per cent after the fast-moving consumer goods major reported a 33.42 per cent rise in net profit to Rs 404.22 crore for the quarter ended September 30.
The Britannia stock was the top gainer on the Nifty.The government will release data on consumer price inflation at 5:30 pm.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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