ONGC & Banking stocks are down

Mumbai -- After opening in negative territory in the morning the market continues its red track.

Inox Leisure Ltd. has plunged by 0.7% to Rs 154. The company has commenced commercial operation at its new multiplex located in Vardhan Nagar, Nagpur. The scrip has touched an intra-day high of Rs 156 and a low of Rs 152 and has recorded volumes of over 33 thousand shares on BSE.

On the same track, ONGC has slipped by 1.4% to Rs 1193. The company has planned to invest up to $2bn to explore oil in Nigeria. The scrip has touched an intra-day high of Rs 1248 and a low of Rs 1740 and has recorded volumes of over 1 lakh shares on NSE.

Following the negativity, Banking stocks are witnessing the downfall on account of selling pressure. HDFC Bank has slipped by 1.2% to Rs 840, SBI has tumbled by 1.1% to Rs 869, Corp Bank is dipped by 0.6% to Rs 284 and ICICI Bank has lost by 0.5% to Rs 585.

The market got a slight boost when GE Shipping changed it's way by gaining 1.9% to Rs 154 after the company signed contract for 2 new vessels. The scrip has touched an intra-day high of Rs 255 and a low of Rs 249 and has recorded volumes of over 1 lakh shares on NSE.

Likewise, ACE Software Exports Ltd. has surged by 8.1% to Rs 16. The Board of Directors of the company has sanctioned its nod to the buy-back of 25% of the paid-up equity share capital of the Company. The scrip has touched an intra-day high of Rs 16.27 and a low of Rs 15 and has recorded volumes of over 900 shares on NSE.