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Markets are seen extending their losses for a sixth day taking cues from global bourses.
U.S. stocks fell Thursday, with technology stocks weighing on the broader market following lackluster earnings from Oracle. The Dow slipped 90 points to 14,421. Nasdaq and S&P shed almost a per cent each.
In Asia this morning, the Nikkei has slumped 1.2% at 12,481 on overseas losses and rise Of Yen. Seoul Composite has also slipped marginally. At 700 hrs IST the SGX Nifty is trading at 5,653 - down six points.
In individual stocks, Oil & Natural Gas Corporation (ONGC) said that it has made three significant discoveries including two in the Krishna Godavari basin and one in Tripura. The company has decided to invest over Rs 4,050 crore to upgrade western offshore facilities through two major projects.
Look out or fertiliser shares. Fertiliser subsidy payment worth Rs 31,580 crore is likely to remain outstanding to the nutrient manufacturers this fiscal, Parliament was informed on Thursday.
Sadbhav Engineering has bagged a contract for four-laning of a road project estimated at Rs 1,210 crore. The project is to be executed on design-build-finance- operate-and-transfer pattern under NHDP Phase-III in the state of Haryana.
Boosted by the demand for the Ambassador, Hindustan Motors sales jumped 166% in Feb. The firm is now planning a massive facelift for its cars to keep the momentum going. Watch out for the auto stock today.
