Sensex off highs after weak factory data

Mon Nov 12, 2012 12:27pm IST

A broker reacts while trading at a stock brokerage firm in Mumbai November 11, 2008. REUTERS/Arko Datta/Files

A broker reacts while trading at a stock brokerage firm in Mumbai November 11, 2008.

Credit: Reuters/Arko Datta/Files

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Reuters Market Eye - The Sensex and the Nifty are trading flat, coming off highs after data showing weaker-than-expected industrial output in September.

Capital good stocks fall after the manufacturing output sub-index contracts 1.5 percent from a year ago: Larsen & Toubro (LART.NS) down 0.4 percent and Punj Lloyd (PUJL.NS) falls 1.3 percent.

Tata Steel (TISC.NS) falls 1.7 percent after posting on Friday an unexpected net loss in the July-September quarter and warning it did not expect an improvement any time soon due to weak market conditions.

But State Bank of India (SBI.NS) gains 0.9 percent, recovering after slumping 3.9 percent on Friday when the lender posted an increase in non-performing loans during the July-September quarter.

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