BSE realty index has dipped 2% in opening trades. PSU, bankex and oil & gas indices have dropped nearly 1% each.
ONGC is down 3% at Rs 279 in morning trades after LIC bailed out of the issue. The sale of government’s 5 per cent stake in ONGC through an auction finally managed to sail through with estimated proceeds of about Rs 12,000 crore.
MphasiS reported 18.5 per cent decline in net profit to 184.9 crore rupees for the quarter ending January 2012 post market hours yesterday. The stock is down 5% at Rs 409.
Zee TV has received the much-awaited landing rights in China which will enable the company to cater to audience in the mandarin country. The stock is up 4% at Rs 135.
Videocon Industries has reported 47 per cent decline in net profit for the fourth quarter ended December 2011 at 86.4 crore rupees. The stock is up 3% at Rs 190.