The broader markets continued to outperform benchmarks with the BSE Midcap and Smallcap indices gaining 0.8 percent. Advancing shares outpaced declining ones by a ratio of 1009 to 254 on the BSE.

Among midcaps, TVS Motor , Allahabad Bank , Syndicate Bank , Standard Chartered and Sun Pharma Advanced Research gained 4-6 percent while Sadbhav Engineering , DB Realty , Godrej Properties , Jindal Saw and Alstom T&D slipped 2-4 percent.

In the smallcap space, Orbit Corporation shot up 16 percent followed by Welspun India , UB Holdings , ESS DEE Aluminium and S Mobility with a 7-9 percent upmove. However, Surana Industries , V-Mart Retail, Sagar Cement , Sandur Manganes and Gati lost 3.5-5 percent.

India’s factories lost momentum last month as softness in new domestic orders prompted firms to lower production growth, but demand from abroad picked up, a survey showed on Thursday.

The HSBC Manufacturing Purchasing Managers’ Index, compiled by Markit, fell to 50.7 in December from 51.3 in the previous month. The index, which gauges business activity in Indian factories but not its utilities, spent three months below the 50 mark that separates growth from contraction before rising above it in November, reports Reuters.

“Manufacturing activity decelerated slightly in December as a slowdown in domestic order flows led to slower output growth,” said Leif Eskesen, a chief economist at HSBC.

Power Grid Corporation has commissioned the crucial Raichur-Solapur line well ahead of its committed schedule, once again underlining its execution prowess. “Power Grid remains a solid defensive growth story and our top pick in the sector. We reiterate our buy rating,” Nomura said in its report.