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Journalism of Courage
Massive sell-off by investors sent Oil and Natural Gas Corp down by over 5 per cent at the Bombay Stock Exchange amid a bearish market sentiment.
ONGC dropped by 5.58 per cent to close at Rs 281.80 on the BSE. In the intra-day trade,the state-run firm shed 6.63 per cent to Rs 278.65 a piece.
On National Stock Exchange,ONGC slipped by 5.83 per cent to close at Rs 282.50.
In terms of volume,over 55 lakh shares of the company were traded on the two bourses.
“The overall market sentiment is weak,investors confidence has gone for a toss. Fall in ONGC and other oil and gas stocks is due to profit taking,” Religare Securities Executive Vice-President Retail Research Rajesh Jain said.
