25 September 2014

Intraday Stock Tips Live Updates; Nifty struggles at 8000

Today Intraday  Equity benchmarks continued to see consolidation with the Nifty struggling at 8000 on expiry session for September derivative contracts. Oil & gas, banks, metals and power stocks were under pressure. The Sensex fell 52.05 points to 26692.64 and the Nifty declined 15.10 points to 7987.30. About 753 shares have advanced, 1191 shares declined, and 56 shares are unchanged.
ONGC fell 2.4 percent as Law Minister Ravi Shankar Prasad says cabinet deferred decision on gas pricing. Oil India was down 1.3 percent. Hindalco Industries topped the selling list, down nearly 4 percent. ICICI Bank, State Bank of India, Axis Bank, Mahindra and Mahindra, Tata Steel, Sesa Sterlite, NTPC, Tata Power and BHEL declined 1-2 percent. However, shares of TCS, HDFC Bank, ITC, HDFC, Infosys, Dr Reddy's Labs, Wipro, Coal India, Gail and Cipla gained 0.5-1.6 percent.
The S&P BSE Sensex pared most of its early morning gains and turned negative in trade on Thursday ahead of September F&O expiry. The fall in the index was led by losses in RIL, ONGC, Axis BankBSE -3.78 %, SBI and ICICI BankBSE -2.62 %. Tracking the momentum, the 50-share Nifty index slipped below its crucial psychological support level of 8000, weighed down by losses in power, realty, oil & gas and banking stocks. 

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