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Nifty down 1%, ONGC and SBI contributes to fall

, March 28, 2012, 0 Comments

Frontline indices were under pressure throughout day. Its negative closing ahead of March Expiry. Oil and Gas sector and Banks were major contributor for losses. ONGC were down 2.5% to 257.75, State Bank of India also slipped to 2079.25.

Some pocket of buying were witnessed in Pharma counters such as Dr Reddy [stockquote]DRReddy[/stockquote]were up by 1.43% and Ranbaxy Labs [stockquote]Ranbaxy[/stockquote] up 1.32%.

In last few sessions NIFTY has unable to move above 5270-5300 levels and somehow managed to recover from 5150-5170, any closed below 5150 will be seen as more negative and will attract more short build-up.