Indian markets remained range bound on the back of mixed cues on both global and domestic fronts. Nifty ended up around 1.5 per cent on a weekly basis. The Nifty is likely to move down below 6237 and 6150 in these days. According to data released by the statistics office, the November IIP data fell to 2.1 per cent, making it the second consecutive month of contraction. The manufacturing sector, which accounts for 76 per cent of industrial production, had a bad hit contracting to 3.5 per cent.

The IIP numbers for October have revised marginally to 1.57 per cent and the data for the first eight months for the present financial year stood at 0.2 per cent, against 0.9 per cent in a year ago period. The consumer durables segment contracted by 21.5 per cent in November against a growth of 1.1 per cent in the same month last year. Having a weightage of 14 per cent in IIP, the mining sector grew by 1 per cent in the month under review against a dip of 5.5 per cent in the same month in 2012.