Sensex off
opening low, Nifty above 10,500; HPCL, BPCL, IOC crack 20%
Benchmark indices
opened sharply lower on Friday morning after the government move raised fear of
subsidy burden on PSU oil companies.
The 30-share BSE
Sensex was down 228.38 points or 0.65 percent at 34,940.78 and the
50-share NSE Nifty fell 113.90 points or 1.07 percent to 10,485.40.
GAIL cracked 10
percent and ONGC plunged 12 percent. MRPL was down 10 percent. HPCL, BPCL
and IOC crashed another 20-25 percent on government move.
Tech Mahindra,
Hindalco, Reliance Industries and TCS were down 2-4 percent, but
Infosys was up a percent.
Titan Company,
IDBI Bank and IL&FS Investment Managers were gainers.
The Indian rupee opened lower at 73.65
per dollar on Friday against previous close of 73.58.
Stocks in the News: Lupin, Cadila Healthcare, Bhushan Steel, Dilip
Buildcon, NBCC, Dixon
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