Indian benchmarks continued to trade lower during the late noon trading session on Friday after Moody's Investors Services downgraded India's sovereign outlook from 'stable' to 'negative', saying concerns mount the economic slowdown will be prolonged and debt will rise. On the NSE, the Nifty50 slipped below the crucial 12,000-mark to hover around 11,950 levels.
Indian rupee is trading lower at 71.16 per dollar.
On the corporate front, shares of Bharat Forge slipped 8 per cent to Rs 433 on the BSE on Friday after the company's consolidated profit before tax (PBT) declined 27 per cent year on year (YoY) to Rs 251 crore in the September quarter (Q2FY20) due to de-growth in revenue.
At 14:19 hours, the 30-share benchmark index was trading at 40529.68 down by -124.06 points or by -0.31 per cent, while the NSE Nifty was at 11979.75 down by -32.3 points or by -0.27 per cent.
The BSE Sensex touched intraday high of 40749.33 and intraday low of 40452.26 The NSE Nifty touched intraday high of 12034.15 and intraday low of 11948.5.
The top gainers of the BSE Sensex pack were YES Bank Ltd. (Rs. 69.90,+5.11%), IndusInd Bank Ltd. (Rs. 1433.60,+3.82%), ICICI Bank Ltd. (Rs. 492.70,+2.92%), Mahindra & Mahindra Ltd. (Rs. 587.80,+1.27%), Tata Motors Ltd. (Rs. 173.50,+1.20%), among others.
Among others, the top losers of the BSE Sensex pack were Sun Pharmaceutical Industries Ltd. (Rs. 423.60,-3.83%), Hindustan Unilever Ltd. (Rs. 2087.55,-2.35%), ITC Ltd. (Rs. 261.00,-1.84%), Tata Consultancy Services Ltd. (Rs. 2146.00,-1.81%), Oil And Natural Gas Corporation Ltd. (Rs. 139.70,-1.69%), among others.
On the sectoral front, Realty index was at 2181.24 up by 60.2 points or by 2.84%. DLF Ltd. (Rs. 209.25,+8.73%), Housing Development & Infrastructure Ltd. (Rs. 1.91,+4.95%), Indiabulls Real Estate Ltd. (Rs. 73.10,+4.35%), Phoenix Mills Ltd. (Rs. 733.60,+2.27%), Sobha Ltd. (Rs. 445.50,+1.32%),.
Whereas, Oil&Gas index was at 15254.74 down by -180.15 points or by -1.17%. Castrol India Ltd. (Rs. 146.90,-3.89%), GAIL (India) Ltd. (Rs. 127.25,-3.71%), Hindustan Petroleum Corporation Ltd. (Rs. 299.00,-3.64%), Gujarat State Petronet Ltd. (Rs. 211.00,-1.77%), Oil And Natural Gas Corporation Ltd. (Rs. 139.70,-1.69%),.
The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 2727 , shares advanced were 1170 while 1350 shares declined and 207 were unchanged.