Sensex sheds over 100 pts; oil & gas stocks
drag
26/06/2014 11:34
Weighed down by sharp losses in oil and gas stocks led by Reliance Industries, Oil And Natural Gas Corporation, Oil India and HPCL, the domestic bourses stayed under pressure in late morning trade. However, the boarder market continued to hold its ground with moderate gains. Shares of oil and gas companies were down up to 7% after the government defers its decision on gas price hike by three months till December 31, 2014. Further, the market also witnessed volatility due to expiry of June month F&O later today.
At 11:25 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 25188.07 down by 125.67 points or by 0.5 per cent and the NSE Nifty was at 7534.05 down by 35.2 points or by 0.47 per cent.
However, the broader market was moving above baseline. The BSE MIDCAP was at 9229.71 up by 21.05 points or by 0.23 per cent, while the BSE SMLCAP was at 10016.26 up by 3.47 points or by 0.03 per cent.
The market breadth, indicating the overall strength of the market, was positive. On BSE out of total shares traded 2647, shares advanced were 1364 while 1168 shares declined and 115 were unchanged..
The top losers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 414.20,-5.18%), Reliance Industries Ltd. (Rs. 1024.70,-2.48%), NTPC Ltd. (Rs. 154.10,-1.72%), GAIL (India) Ltd. (Rs. 461.05,-1.36%), Housing Development Finance Corporation Ltd. (Rs. 982.00,-1.31%), among others.
On the flip side, Larsen & Toubro Ltd. (Rs. 1672.35,+1.33%), Dr. Reddy's Laboratories Ltd. (Rs. 2511.65,+1.30%), Wipro Ltd. (Rs. 535.15,+1.28%), Bharat Heavy Electricals Ltd. (Rs. 253.05,+1.26%), Mahindra & Mahindra Ltd. (Rs. 1180.75,+0.88%), were among notable gainers on BSE.
Among the thirteen sectoral indices on BSE, oil&gas index was leading the fall and was trading lower at 11075.23 down by 350.46 points or by 3.07 per cent. Oil And Natural Gas Corporation Ltd. (Rs. 414.20,-5.18%), Oil India Ltd. (Rs. 566.20,-3.81%), Hindustan Petroleum Corporation Ltd. (Rs. 400.50,-3.76%), Bharat Petroleum Corporation Ltd. (Rs. 561.50,-3.33%), Indian Oil Corporation Ltd. (Rs. 332.20,-2.85%), were among the notable losers on BSE.
Following the oil&gas index, BSE_PSU index was at 8558.14 down by 114.64 points or by 1.32 per cent. Oil And Natural Gas Corporation Ltd. (Rs. 414.20,-5.18%), Oil India Ltd. (Rs. 566.20,-3.81%), Hindustan Petroleum Corporation Ltd. (Rs. 400.50,-3.76%), Bharat Petroleum Corporation Ltd. (Rs. 561.50,-3.33%), Indian Oil Corporation Ltd. (Rs. 332.20,-2.85%), were among the others dragging the market.
Weighed down by sharp losses in oil and gas stocks led by Reliance Industries, Oil And Natural Gas Corporation, Oil India and HPCL, the domestic bourses stayed under pressure in late morning trade. However, the boarder market continued to hold its ground with moderate gains. Shares of oil and gas companies were down up to 7% after the government defers its decision on gas price hike by three months till December 31, 2014. Further, the market also witnessed volatility due to expiry of June month F&O later today.
At 11:25 hours, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 25188.07 down by 125.67 points or by 0.5 per cent and the NSE Nifty was at 7534.05 down by 35.2 points or by 0.47 per cent.
However, the broader market was moving above baseline. The BSE MIDCAP was at 9229.71 up by 21.05 points or by 0.23 per cent, while the BSE SMLCAP was at 10016.26 up by 3.47 points or by 0.03 per cent.
The market breadth, indicating the overall strength of the market, was positive. On BSE out of total shares traded 2647, shares advanced were 1364 while 1168 shares declined and 115 were unchanged..
The top losers of the BSE Sensex pack were Oil And Natural Gas Corporation Ltd. (Rs. 414.20,-5.18%), Reliance Industries Ltd. (Rs. 1024.70,-2.48%), NTPC Ltd. (Rs. 154.10,-1.72%), GAIL (India) Ltd. (Rs. 461.05,-1.36%), Housing Development Finance Corporation Ltd. (Rs. 982.00,-1.31%), among others.
On the flip side, Larsen & Toubro Ltd. (Rs. 1672.35,+1.33%), Dr. Reddy's Laboratories Ltd. (Rs. 2511.65,+1.30%), Wipro Ltd. (Rs. 535.15,+1.28%), Bharat Heavy Electricals Ltd. (Rs. 253.05,+1.26%), Mahindra & Mahindra Ltd. (Rs. 1180.75,+0.88%), were among notable gainers on BSE.
Among the thirteen sectoral indices on BSE, oil&gas index was leading the fall and was trading lower at 11075.23 down by 350.46 points or by 3.07 per cent. Oil And Natural Gas Corporation Ltd. (Rs. 414.20,-5.18%), Oil India Ltd. (Rs. 566.20,-3.81%), Hindustan Petroleum Corporation Ltd. (Rs. 400.50,-3.76%), Bharat Petroleum Corporation Ltd. (Rs. 561.50,-3.33%), Indian Oil Corporation Ltd. (Rs. 332.20,-2.85%), were among the notable losers on BSE.
Following the oil&gas index, BSE_PSU index was at 8558.14 down by 114.64 points or by 1.32 per cent. Oil And Natural Gas Corporation Ltd. (Rs. 414.20,-5.18%), Oil India Ltd. (Rs. 566.20,-3.81%), Hindustan Petroleum Corporation Ltd. (Rs. 400.50,-3.76%), Bharat Petroleum Corporation Ltd. (Rs. 561.50,-3.33%), Indian Oil Corporation Ltd. (Rs. 332.20,-2.85%), were among the others dragging the market.
