Sensex, Nifty trade with minor losses; oil & gas shares decline for 4th day in row
The Nifty traded near the 26,050 mark, while oil & gas shares extended losses for a fourth consecutive session.
At 10:30 ST, the barometer index, the S&P BSE Sensex, declined 277.54 points or 0.33% to 84,683.60. The Nifty 50 index fell 90.25 points or 0.35% to 26,050.50.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.65% and the S&P BSE Small-Cap index shed 0.37%.
The market breadth was negative. On the BSE, 1,478 shares rose and 2,114 shares fell. A total of 194 shares were unchanged.
Buzzing Index:
The Nifty Oil & Gas index fell 1.29% to 11,767.50. The index declined 4.63% in the four consecutive trading session.
Hindustan Petroleum Corporation (down 1.98%), Bharat Petroleum Corporation (down 1.98%), Indian Oil Corporation (down 1.33%), Petronet LNG (down 1.31%), Oil India (down 1.24%), Oil & Natural Gas Corpn (down 1.22%), Reliance Industries (down 0.71%), GAIL (India) (down 0.51%), Castrol India (down 0.43%) and Indraprastha Gas (down 0.12%) declined.
On the other hand, Gujarat State Petronet (up 0.63%), Adani Total Gas (up 0.55%) and Gujarat Gas (up 0.38%) added.
Stocks in Spotlight:
Housing & Urban Development Corporation (HUDCO) added 1.29%. The company has signed an MoU with the Government of Chhattisgarh to provide financial assistance of up to Rs 1 lakh crore over the next five years for housing and urban infrastructure development.
Avantel rallied 1.58% after the company announced that it had received a purchase order valued at Rs 11.19 crore from NewSpace India.
Gland Pharma jumped 0.60%. The company received an approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) filed for Olopatadine Hydrochloride Ophthalmic Solution USP, 0.7%.
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