The index shrugged off negative Asian cues; Hang Seng dropped over 1 per cent. Nikkei, Kospi and Taiwan were down 0.5 per cent each; Straits Times slipped 0.2 per cent.
Tata Motors rallied 2.7 per cent despite lower-than-expected numbers in Q2. JSPL, Hindalco and Maruti gained 1-2 per cent.
HDFC Bank, TCS, L&T, Bharti Airtel, SBI, ONGC, Bajaj Auto, Tata Steel and BHEL climbed 0.5-0.9 per cent.
Cipla reported a net profit of Rs 309 crore in the second quarter of FY12, a growth of 17.5 per cent as compared to a year ago period. Net sales jumped 9.6 per cent to Rs 1,732 crore during the same period. The stock gained 4.5 per cent.
However, the fall in Reliance Industries, HDFC, HUL and Wipro (lost moderately) has limited the upside.
The market breadth was in favour of declines; about 446 shares advanced as against 678 shares slipped on National Stock Exchange.
At 9:20 hours IST : Sensex opens moderately lower; Tata Power tanks 7 per cent
The BSE benchmark Sensex fell 40 points in opening trade following moderate sell-off across the globe. Technology, FMCG, Tata group and select financial stocks were witnessing selling pressure. Soon after, the 30-share BSE Sensex slumped another 63 points to 17,055.54 and the 50-share NSE Nifty dropped 25 points to 5,123.05.
Numbers below expectations: Tata Power crashed 7 per cent as it reported consolidated loss of Rs 1219 crore in Q2FY12. Tata Motors was own 1.5 per cent as it posted less than expected numbers on consolidated basis in September quarter.
Reliance Power, Sterlite, JSPL, Reliance Industries, ICICI Bank, BPCL, Power Grid, SBI and Axis Bank were under pressure.
However, Cipla rallied 3 per cent on the back of a rise of 17.5 per cent in Q2 net profit at Rs 309 crore.
Maruti, JP Associates, Dr Reddy's Labs and BHEL were other gainers.
The CNX Midcap Index slipped 27 points to 7,017. About two shares declined for every share gaining on National Stock Exchange.
New listing : Essar Shipping was trading Rs 35 as against face value of Rs 10 a share.
Hexaware, India Cements and Madras Cement were up 0.9 per cent each.
Shipping Corp plunged 3 per cent on disappointing numbers in Q2.
Infrastructure stocks like IVRCL, HCC and Lanco Infratech were down 1.5-2.5 per cent.
Kingfisher Airlines fell 1.6 per cent post the company reported a loss of Rs 469 crore in Q2 versus Rs 231 crore in a year ago period.
Likely deletions from MSCI Index: Piramal Healthcare, HDIL and Indiabulls Real dropped 0.5-1 per cent.
KRBL tumbled 10 per cent. Gati slipped 4 per cent ahead of numbers.
Global cues
Asian markets were trading lower. Nikkei, Straits Times, Kospi and Taiwan fell 0.4 per cent each. Hang Seng lost 0.8 per cent and Shanghai was flat.
Global markets saw marginal selling pressure amid very low volumes on Monday. Market was skeptic about rising Italian bond yields and there was no economic data released yesterday.
Italian bond auction of 3 billion euros saw the yield push upwards to a record high of 6.2 per cent, compared with 5.3 per cent in a similar auction in mid-October.
The Dow Jones Industrial Average ended down 75 points at 12,076, after seeing recovery of 52 points from day's low.
NASDAQ Composite was down 22 points at 2,656, after seeing recovery of 10 points from day's low.
The S&P 500 Index fell 12 points at 1,251, after seeing recovery of 6 points from day's low.
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