The Intraday market drags further on heavy profit booking.
The Sensex is down 569.90 points or 2.18 percent at 25530.18 and the Nifty is
down 176.00 points or 2.26 percent at 7611.15. About 769 shares have advanced,
2220 shares declined, and 94 shares are unchanged.
L&T, SBI, Reliance
Industries, ONGC, ICICI Bank, TCS and Tata Motors slipped 1.5-4 percent while
BHEL, NTPC, Coal India and Tata Power cracked 4.5-7 percent. However, housing
finance company HDFC and drug maker Sun Pharma outperformed, rising over a
percent.
ONGC has okayed an expenditure sanction of an additional USD
501.95 million (equivalent to Rs 3,085.54 crore) for hiring of five more
offshore jack-up rigs for a period of three years," according to oil and
gas industry .The effective rig rate based on the Indian petro news article
works out to approximately USD 91,680 per day, Aban lists Oil and Natural Gas
Corporation and its unit ONGC Videsh among its marquee clients, a presentation
by the company in May 2014 on its website shows. The stock gained 3.7 percent
now.
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