Market muted; Canara Bank down 2.15% on dismal Q3 results

Key equity benchmarks succumbed to selling pressure in the afternoon. The Sensex is down 14.27 points at 19566 and the Nifty slips 13.20 points to 5925. About 941 shares have advanced, 1594 shares declined, and 960 shares remain unchanged.

Hindalco fell 2.82 percent ahead of third quarter earnings. The company is expected to post tepid numbers. Cipla continues it downward journey after disappointing the street with dismal Q3 results.

Coal India and Sterlite Industries are also trading down more than two percent each. From the midcap space, Shashun Pharma is down 11.86 percent after reporting a fall of nearly 67 percent year-on-year to Rs 8.2 crore in Q3FY13.

Public sector lender Canara Bank saw a drop of 19 percent in net profit dented by higher provisions. The stock is down 2.15 percent.

IT majors TCS (up 2.85 percent) was the top gainer on the Sensex. BHEL, Larsen, NTPC and HDFC Bank were all up more than a percent.