Nifty below 22,000 level; oil & gas shares decline

The key equity barometers traded with significant losses in morning trade. The Nifty traded below 22,000 level. Oil & Gas shares slipped after advancing in the past trading session.

At 10:30 IST, the barometer index, the S&P BSE Sensex, slipped 485.68 points or 0.66% to 72,614.07. The Nifty 50 index lost 171.35 points or 0.77% to 21,975.30.

In the broader market, The S&P BSE Mid-Cap fell 1.41% and the S&P BSE Small-Cap index lost 0.90%.

The market breadth was weak. On the BSE, 1,387 shares rose and 2,156 shares fell. A total of 130 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index fell 1.80% to 11,078.60. The index advanced 2.33% in the past trading session.

Hindustan Petroleum Corporation (down 6.64%), Bharat Petroleum Corporation (down 4.76%), Indian Oil Corporation (down 4.17%), GAIL (India) (down 2.87%), Oil & Natural Gas Corporation (down 2.05%), Castrol India (down 1.58%), Gujarat Gas (down 0.79%), Mahanagar Gas (down 0.7%), Petronet LNG (down 0.62%) and Indraprastha Gas (down 0.51%) declined.

Stocks in Spotlight:

Shakti Pumps (India) jumped 4.87% after the company announced that it has received Letter of Award from Maharashtra Energy Department Agency (MEDA) for a project worth Rs 93 crore.

One97 Communications (OCL) was locked in 5% upper circuit after the National Payments Corporation of India (NPCI) has granted approval to the company to participate in UPI as a Third-Party Application Provider (TPAP) under multi-bank model.

Gujarat Fluorochemicals shed 0.82%. The company has incorporated its subsidiary company namely IGREL Mahidad for power generation.

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