After 3 weeks of consecutive rally, this week was a breather for the index, which corrected by almost 1.5%.
The iron and steel industry in India consists of integrated steel plants based on Blast Furnace, Basic Oxygen Furnace route, main producers based on Cores, Finex or PCI Technology, mini steel plants and standalone finished steel producers
The government on Thursday revised upwards factory output growth rate in April to 2.2 per cent from 2 per cent announced on Wednesday.
Manufacturing, which constitutes about 76 per cent of industrial production, grew 2.8 per cent from a year earlier, the statistics office said.
Leading indicators suggest economic activity has been disrupted after demonetisation.
Automobiles, banks, pharma and software firms growth drivers slowdown in cap goods, construction, power.
Fund managers said they were now waiting for first-quarter results of IT firms, which begin with Infosys Technologies next Wednesday (July 11), to decide their investment strategy for the sector.
Notable losers were ONGC, Axis Bank, ITC, SBI, ICICI Bank, NTPC, Hero Motocorp, Sun Pharma and Bharti Airtel who fell by up to 2.80 per cent.
The breadth was neutral with 1,329 advances and 1,320 declines.
The RBI expects CPI inflation to fall from 5.8% in Jan '16 to 4.8% in Jan-Mar '17.
Sensex, Nifty end lower on global concerns.
The broader markets traded higher with mid-caps and small-caps gaining 0.2-0.3 per cent on the BSE.
Late-recovery led by rate sensitives and capital good stocks; banks shares slip on profit booking.
In the Sensex kitty on Wednesday, Tata Motors emerged as the top loser falling 3.01 per cent, followed by Vedanta shedding 2.92 per cent. Other laggards include HUL, Kotak Bank, NTPC, Infosys, HDFC Bank, Bajaj Finance, Hero MotoCorp, ICICI Bank, Yes Bank, HDFC, IndusInd Bank and PowerGrid, falling up to 1.77 per cent.
Capital goods production, a barometer for investments in the economy, contracted by 2 per cent in August.
Index heavyweights were the top losers along with bank shares.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
The performance is affected as bets on small- and mid-cap shares went wrong.
Markets crashed due to domestic worries; bluechip stocks tanked too.
The output, as measured by the Index of Industrial Production, had contracted by 2.5 per cent in the same month of last year.
Industrial output grows at meagre rate of one per cent in 2012-13 compared to 2.9 per cent in the previous fiscal.
Economists, however, caution against interpreting the data as a broad-based revival
The broader 50-issue NSE Nifty dropped 38.35 points, or 0.38 per cent, to close at 10,186.60
Most have seen decline in cash reserves and deterioration in financial ratios in recent years.
Before growing 2.8 per cent in latest April-September period, IIP had seen negative growth of 0.1 per cent in 2013-14 period.
BSE mid-cap index slipped 0.6% at 6,266. Small-cap index held on to gains and traded unchanged at 6,034.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
The Budget will be keenly watched (to see) whether there is a credible plan for reducing the fiscal deficit and whether populist measures can be avoided before the 2014 general elections," the Wall Street firm said in a note.
Worried over continuous decline in exports, the Commerce Ministry has stepped up its pressure on Finance Ministry to expeditiously notify a scheme which was announced in June to boost the overseas shipments.
The BSE Capital Goods index soared over 4% to 16,631, and the IT index surged over 3% to 5049. The Metal index was up 2.5% at 14,444. The market breadth was marginally negative - out of 2,806 stocks traded, 1,417 declined, 1,325 advanced and 64 were unchanged on Wednesday.
The 30-share Sensex stayed in the green for the better part of the session and hit the day's high of 38,297.70 as buying pace gathered momentum towards the fag-end.
The positive numbers raises hopes of recovery.
Banks, real-estate sectors lead gains.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
In the next six months it will be subdued.
What came to the rescue of the IIP numbers in February were mining and electricity.
Analysts polled by Reuters had expected output to grow 0.7 per cent annually.
Growth in factory output, as measured by the Index of Industrial Production, was 6.2 per cent in May 2011, according to the official data released on Thursday.
India Inc borrowed heavily in December.
The fall was led by L&T, IndusInd Bank, PowerGrid, NTPC, TCS, ICICI Bank, Axis Bank, Hero MotoCorp, Bharti Airtel and SBI, declining up to 2.64 per cent.
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