The market remained under pressure in noon trade. The Sensex fell 80.97 points to 28453 and the Nifty declined 16.75 points to 8610.65 as banking, FMCG and metal stocks lost ground.
The broader markets outperformed yet again, the BSE Midcap and Smallcap indices gained 0.9 percent each. About 1431 shares have advanced, 1065 shares declined, and 217 shares are unchanged on the Bombay Stock Exchange.
ONGC declined 0.5 percent on news that the company will have to pay a fuel subsidy of Rs 8,700 crores for the December quarter. Media reports suggested that ONGC and oil PSUs may have to pay Rs 10,900 crore in subsidy as the finance ministry has agreed to pay only Rs 5,085 crore subsidy for the December quarter.
Mahindra & Mahindra gained 0.2 percent along with Pipavav Defence (up 9 percent) on reports that Mahindra group is planning to pick up 25-30 percent stake in the defence company at Rs 66 per share, valuing the deal at Rs 3000 crores. Pipavav Defence board meet is slated for tomorrow.
Real Time News & Trading Trends Keep Liking #EpicResearch
Facebook – Twitter – YouTube – Pinterest –Linkedin – Google+
For more information ✆ – 0731-6642300 or Visit http://www.epicresearch.co
No comments:
Post a Comment