5:30AM NY:4:30PM Mumbai Sensex trades slightly lower in mid-afternoon session on Friday.

The Sensex on BSE is trading 38.83 points, or 0.27%, lower at 14,147.35 in late afternoon session.

The market-breadth improved from the morning session but is still negative with 1,230 stocks lower, 1,111 higher and 76 which are unchanged.

Economic news

The Indian rupee lost further to the dollar and is now past 41 rupees per dollar. The partially convertible rupee stands at 41.01, its lowest level since May 14.

Wholesale price inflation increased in the week ending May 26 to 4.85%, lower than 5.06% in the previous week and below estimates of 5.05% growth.

Advancers

Satyam has rallied 4.7% to Rs 504 and Hindalco has added 3.5% to Rs 159.
TCS and SBI have both rallied 1.8% to Rs 1,228 and Rs 1,384, respectively. ONGC has risen 1.5% at Rs 868. Wipro, Reliance Industries and Infosys are over 1% higher each at Rs 552, Rs 1,689 and Rs 1,973, respectively.

Decliners

Tata Steel has plummeted 3.5% to Rs 593. HDFC and ITC have lost 2.5% each to Rs 1,775 and Rs 151, respectively. Maruti and Ranbaxy have dipped over 2% each to Rs 743 and Rs 370 and Dr.Reddy''s and Tata Motors are lower 1.7% each to Rs 635 and Rs 665.