Home / Business / Money / Sensex, Nifty take breather; ONGC, SBI, MM laggards

Sensex, Nifty take breather; ONGC, SBI, MM laggards

ONGC, Axis Bank, GAIL, SBI and M&M are major laggards. Among the gainers are Sun Pharma, Dr Reddy’s Labs, Wipro, Cipla and Tata Steel.

11:07

The News International Team

Sensex, Nifty take breather; ONGC, SBI, M&M laggards

After a spectacular rally, the market is taking some breather. The Sensex is down 76.03 points at 26344.64 and the Nifty is down 21.00 points at 7876.50. About 1252 shares have advanced, 1046 shares declined, and 93 shares are unchanged.

ONGC, Axis Bank, GAIL, SBI and M&M are major laggards. Among the gainers are Sun Pharma, Dr Reddy’s Labs, Wipro, Cipla and Tata Steel.

Brent crude futures steadied near 14-month lows above USD 101 a barrel, with ample supplies putting prices at risk of further losses as worries over geopolitical tensions ease.

The oil benchmark has fallen more than 12 percent from this year’s peak of USD 115.71 reached in June due to the turmoil in Iraq. While the conflict there continues, there has been no significant disruption to oil supply from the No. 2 OPEC producer, giving space for a sustained retreat in prices.

Lukoil, Russia’s second biggest oil producer, said on Tuesday it had shipped 1 million barrels of oil produced from southern Iraq’s giant West Qurna-2 oilfield, its first shipment from the field, despite a surge of violence in the country.In Libya, a spokesman for National Oil Corp said the country’s total oil production had risen to 562,000 barrels per day (bpd) from 535,000 bpd at the weekend.

10:00

Nifty struggles at 7900; Sun Pharma, Dr Reddy’s Labs rally

Drug makers Sun Pharma and Dr Reddy’s Labs rallied over 1.5 percent while rival Cipla climbed 0.6 percent. Index heavyweight Reliance Industries bounced back, up 0.6 percent while private sector lender HDFC Bank remained on buyers’ radar, up 0.4 percent.

Read More »

09:15

Sensex, Nifty flat; HDFC Bank, Bharti Airtel top gainersRead More »

HDFC Bank, Bharti Airtel and Hindalco Industries topped the buying list, up 1-1.5 percent whereas ONGC, HDFC, Axis Bank, State Bank of India, ICICI Bank, L&T and ITC declined.

Read More »

Leave a Reply

x

Check Also

Rupee recovers 6 paise to 67.01

The rupee today recovered some lost ground by rising 6 paise to ...

Notes ban to have positive impact on economy

NEW DELHI: The government’s demonetisation move has led to widespread adoption of ...