Nifty edges lower; ONGC, Jindal Steel hit

Nifty slides down by 0.24 percent and ONGC shares fell by 3.2 per cent

Mumbai: The Nifty was trading in the red on Tuesday after the broader index touched a record high of 7,968.25 in the previous session. The Nifty is now down by 0.24 percent. Oil and Natural Gas Corp was down 3.2 per cent on equity dilution concerns on potential share sale by the government.

Jindal Steel and Power Ltd fell 4.7 per cent adding to Monday's 13.9 percent slump after the Supreme Court on Monday said government coal allocations since 1993 are illegal. However, defensive stocks rose as investors chose to derisk portfolios.

Cigarette maker ITC was up 0.89 per cent while Sun Pharmaceutical Industries gains 1.4 per cent.

( Source : reuters )
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