After trading on a firm note, Indian share markets witnessed selling pressure in the afternoon session and finished well below the dotted line after disappointing economic data forced investors to tighten their exposure.

At the closing bell, the BSE Sensex closed lower by 175 points and the NSE Nifty finished lower by 47 points. The S&P BSE Mid Cap finished down by 0.9% while S&P BSE Small Cap finished down by 0.8%. Losses were largely seen in realty sector, metal sector and capital goods sector.

Asian stock markets finished mixed as of the most recent closing prices. The Hang Seng gained 1.49% and the Shanghai Composite rose 0.68%. The Nikkei 225 lost 0.47%. European markets are mixed. The FTSE 100 is higher by 0.04%, while the DAX is leading the CAC 40 lower. They are down 0.20% and 0.10% respectively.

Rupee was trading at Rs 64.45 against the US$ in the afternoon session. Oil prices were trading at US$ 57.61 at the time of writing.

In news from automobile sector, Ashok Leyland share price finished the day in green after it was reported that the company is planning to invest Rs 4 billion over the next two years in developing new products, including left-hand-driving trucks.

The company is working on left-hand-driving commercial vehicles to tap the potential export markets in Gulf countries and Africa.

The new products are also targeted for export markets. Currently, the company exports five per cent of its total volumes. The vehicles are primarily exported to Russia and Ukraine.

In another development, Ashok Leyland has reportedly inaugurated its West African headquarters in Abidjan. The inauguration of this facility is a big step towards offering specialised after-sales solutions to its customers in Ivory Coast and crafting trust for its brand.

Moreover, the company has also rolled out four left-hand drive models that include the Captain range of tippers, Boss range of trucks and two bus ranges – Hawk and Mitr.