Indian benchmark indices, the Sensex and the Nifty, continued to trade flat in the late morning session on Friday on sustained selling by funds and retail investors due to lower GDP numbers and a weak trend in the Asian markets.
At 10.30 a.m., the 30-share BSE index Sensex was down 44.43 points or 0.27 per cent at 16,174.10 and the 50-share NSE index Nifty was down 17.35 points or 0.35 per cent at 4,906.90.
Volume toppers were SBI, Tata Motors, Tata Steel, RIL and Infosys. Among 30-share Sensex, SBI, Tata Power, ITC, Tata Steel and Hindalco. Wipro, TCS, Jindal Steel, Bajaj Auto and Infosys were the major laggards.
Among BSE sectoral indices, IT and TECk stocks witnessed heavy selling pressure with each down by over 1.2 per cent.
The country's economic growth rate slowed to a nine-year low, both in March quarter at 5.3 per cent as well as in 2011-12 at 6.5 per cent.
Most Asian shares were trading down today, with Japan’s benchmark index Nikkei falling over one per cent in early trade, as China’s purchasing managers index contracted in May and US jobless claims data rose more than estimated.
Japan’s Nikkei 225 was down 63.61 points or 0.74 per cent at 8,479.12, while Hong Kong’s Hang Seng was up 49.12 points or 0.26 per cent at 18,678.64.
Bursa likely to extend profit taking
Share prices are expected to undergo further profit-taking next week with the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) possibly retreating to the 1760 points support level.