Eight out of the 11 sectoral indices on the NSE were trading in the negative territory.
- At 11:10 am, the Sensex traded 16.36 points - or 0.04 per cent - lower at 40,328.72 while the Nifty was down 6.10 points - or 0.05 per 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 1.39 per 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 traded in the negative territory. Auto, metal and IT stocks, however, traded higher 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 AK Prabhakar, 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 Industries shares 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.
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