Nifty struggles at 4700; ONGC, Bharti, Infy, ITC, BHEL drag
August 4th, 2009
At 10:38 hours IST, the Nifty was trading lower and struggling at the 4700 mark. Both the equity benchmarks were consolidating at current levels. Pharma stocks along with ONGC, Bharti, ITC, Infosys, BHEL, HDFC, ICICI Bank, Tata Power, Wipro, SAIL, Maruti, Grasim, Ambuja Cements and ABB were witnessing selling pressure.
However, in the metals space, Hindalco surged 5%; Sterlite and Nalco were up 2-2.5%. Tata Steel was up 0.6%, as base metals were trading at 2009 highs. Reliance Industries, NTPC, Tata Motors, M&M, Unitech, L&T, Suzlon and Idea were the other gainers.