Home / Business / Money / Sensex, Nifty, Midcap fall 1%; ONGC at 7-month low, Jet up

Sensex, Nifty, Midcap fall 1%; ONGC at 7-month low, Jet up

Dec 09, 2014, 02.17 PM IST | Source: Moneycontrol.com

State-run oil explorer ONGC hit 7-month low, down nearly 4 percent post fall in oil prices. Cairn India fell nearly 2 percent as brokerage Macquarie downgraded the stock to neutral from outperform on fall in crude oil.

Like this story, share it with millions of investors on M3

Sensex, Nifty, Midcap fall 1%; ONGC at 7-month low, Jet up

State-run oil explorer ONGC hit 7-month low, down nearly 4 percent post fall in oil prices. Cairn India fell nearly 2 percent as brokerage Macquarie downgraded the stock to neutral from outperform on fall in crude oil.

14:00

The News International Team

02:15pm Market Expert

The month of December has not been too kind to Indian equities. The market has lost 2.5 percent from the start of this month.

Deven Choksey, MD, KR Choksey Shares and Securities said that one should use every dip in the market as a buying opportunity.

He expects the Nifty to hover in the broad range of 8,200-8,600 going ahead. Also, he doesn’t foresee a major correction in the near-term.

He is bullish on banks especially large public sector lenders. Quality midcaps should also be considered for investing, he added.

02:00pm Market Check

Equity benchmarks remained under pressure following global sell-off. The Sensex tanked 285.77 points or 1.02 percent to 27833.63 and the Nifty lost 85.90 points or 1.02 percent to 8352.35 as Asian markets closed lower with the China’s Shanghai down 5.4 percent on profit taking amid expectations of weak GDP in 2015 and liquidity fears.

European markets like France’s CAC, Germany’s DAX and Britain’s FTSE dropped 1 percent each post Asian rout and further fall in crude oil prices. Brent crude declined to fresh five-year lows, down 47 cents to USD 65.72 a barrel.

The loss in broader markets was more than benchmarks; the BSE Midcap and Smallcap indices slipped 1.4 percent each. More than two shares declined for every share advancing on the Bombay Stock Exchange.
 
State-run oil explorer ONGC hit 7-month low, down nearly 4 percent post fall in oil prices. Cairn India fell nearly 2 percent as brokerage Macquarie downgraded the stock to neutral from outperform on fall in crude oil.
 
Metal stocks were under pressure post China fall. Sesa Sterlite, JSPL, Hindalco and Tata Steel plunged 2-4 percent.

However, Sun Pharma gained 1.6 percent and Ranbaxy rallied 3 percent after Competition Commission of India clears merger deal with some riders.

Mahindra and Mahindra remained in positive terrain, up nearly a percent after brokerage CLSA reiterated buy rating on the stock with a target price of Rs 1,550, citing favourable risk reward ratio.

Jet Airways gained another 6 percent as the airline company may get more market share after its rival SpiceJet cancelled 1080 flights till December 31.

13:02

Sensex loses over 200 pts, Nifty weak on global jitters

Metals, infra, oil and auto stocks are dragging the indices majorly. Tata Power, Sesa Sterlite, Bharti Airtel, NTPC and ONGC are big laggards in the Sensex. On the gaining side are Sun Pharma, Dr Reddy’s Labs, TCS, M&M and Hero Moto.

Read More »

12:00

Nifty breaks 8400, Sensex below 28000; Shanghai falls 5%Read More »

Shares of Larsen & Toubro, Tata Motors, ONGC, Bharti Airtel, Axis Bank, NTPC, Sesa Sterlite, Tata Power, Cipla, BHEL and Hindalco Industries were down 1-2 percent.

Read More »

10:58

BSE Sensex, Nifty drag; TCS up 1 %, ITC & Bharti laggardsRead More »

TCS, Dr Reddy’s Labs, Sun Pharma, GAIL and HDFC Bank are top gainers in the Sensex. Among the losers are Tata Power, Sesa Sterlite, Bharti Airtel, NTPC and ITC.

Read More »

10:00

Sensex, Nifty under pressure; metals melt furtherRead More »

Metals stocks like Sesa Sterlite, Hindalco Industries and Tata Steel shed around a percent in addition to 2-3 percent fall in previous session. Power stocks namely Tata Power and NTPC, power equipment maker BHEL slipped 1 percent each.

Read More »

09:15

Sensex, Nifty open flat; Sun Pharma & Ranbaxy jump 3%Read More »

Sun Pharma is biggest gainer, up 3 percent in opening trade while Ranbaxy too jumps 3 percent. Wipro, Infosys, TCS and Dr Reddy’s are major gainers in the Sensex.

Read More »

RELATED NEWS

  • Top buzzing midcap stocks to trade on December 9
  • Sensex loses over 200 pts, Nifty weak on global jitters
READ MORE ON  BSE Sensex, Nifty, Market, ONGC, Jet Airways
Previous Is Your Tax planning fully Tax Saving Optimised?
Next International flying rights not in jeopardy: SpiceJet

  • Stocks in news: Sun Pharma, Ranbaxy, ITC, Cadila, OnMobile

  • Here are top 10 stocks to focus on December 9

  • ‘Infosys deal got good response from foreign investors’

  • Go long in Infosys: Mayuresh Joshi

  • CCI clears Sun-Ranbaxy merger deal with riders

  • Year 2015 will be goldilocks period for India: Nomura

  • India may at worst correct 5-10%, PSU banks good: Geosphere

  • Q2 current account deficit up at $ 10bn as gold buy swells

  • Mkt looks well supported for 3-5 yrs; like banks: Axis Cap

  • Rewind 1999: Damani, Suri, Samir Arora gauge mkt strength

  • Sun-Ranbaxy: Agency to monitor drug divestment, says CCI

  • Cross-currency headwinds may impact $ revenue: Mindtree

  • Uber case: Why govt needs to regulate not ban cab service

  • Cox & Kings under pressure after Barclays cuts target by 8%

  • Cadila recalls 15,144 bottles of hypertension drug in US

  • No NPA accounts, all delayed payments made: Diamond Power

  • Marans capable of funding SpiceJet deficiencies: Ajay Singh

video of the day

India may at worst correct 5-10%, PSU banks good: Geosphere

news videos

  • Indian economy can get back to 7% growth rates: Macquarie

  • Mkt looks well supported for 3-5 yrs; like banks: Axis Cap

  • India may at worst correct 5-10%, PSU banks good: Geosphere

  • No NPA accounts, all delayed payments made: Diamond Power

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 ...