Intraday Tips Market Updates; Sensex sheds over 200 pts, Nifty below 7600

The intraday market is under heavy selling pressure as Asia has already shown signs of weakness taking cues from the growing tensions in Ukraine.Investors overlooked the signs of recovery in US economy and are reacting to the geopolitical tension The Sensex is down 243.98 points at 25345.03 and the Nifty slipped 76.30 points at 7572.95.

BHEL, Sun Pharma, and Hindalco are down 2 percent each. ONGC and Axis Bank are other laggards in the Sensex. About 242 shares have advanced, 823 shares declined and 25 shares are unchanged. The Indian rupee declined in the early trade. It has opened lower by 38 paise at 61.60 per dollar versus 61.22 Thursday.

In commodities, crude prices rose, rebounding from the lowest prices in months as the security situation in northern Iraq deteriorated, raising concerns of supply disruptions. From precious metals space, gold prices rose above 1300 dollars an ounce on safe-haven buying amid rising tensions in Iraq and Ukraine
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