There is a continuing decline in the stock market. Sensex plunged by 300 points on Friday. Nifty recorded a decline of 105 points. Healthcare, metal, banking and auto stocks saw more losses. According to analysts, the market is under pressure due to rising crude oil prices in the international market. Foreign investors are selling off. Weak signals have also been affected by foreign markets.
ONGC shares jump 6%
30 Sensex stocks and 38 out of 50 Nifty stocks declined. Dr. Reddy's stock fell 8% on the NSE. JSW shares dropped 5%. In Sun Pharma, 4.5% and Tata Motors saw 3.63% loss in the stock.
On the other hand, shares of Power Grid, NTPC and BPCL rose more than 3%. Infratel's stock also rose by about 3%. During the turnover, ONGC's stock jumped 6%. Shopping in the stock rose sharply due to the company's profits rising by 65% in the December quarter. ONGC had declared results on Thursday.
The Sensex closed at 157.89 points on Thursday and the Nifty was down 47.60 points. This was the sixth consecutive session of the loss. The market is in loss in the seventh session on Friday.