Choppy Nifty widens losses; ONGC down 2% for 2nd day

Private power producer Tata Power rallied 3% as Maharashtra Electricity Regulatory Commission increased fuel adjustment cost ceiling to 20% from 10%. Therefore, the electricity bills are likely to go up from next month in Maharashtra.

Drug manufacturer Cipla and private steel & power producer JSPL gained 1.5% each. Private sector lender HDFC Bank was up 0.6% while its rival ICICI Bank was flat.

Two-wheeler majors Hero Motocorp and Bajaj Auto were down 1% and 3%, respectively. Top commercial vehicle maker Tata Motors fell 1%.

Software services exporters TCS and Infosys declined 0.6% and 1%, respectively. Housing finance company HDFC and state-run power producer NTPC lost 0.5% each.

Engineering and construction major Larsen & Toubro slipped 0.5% and state-owned power equipment manufacturer BHEL tanked nearly 2%.
 
In the second line shares, Wockhardt, Phoenix Mills, Welspun Corp, Standard Chartered and Motilal Oswal gained 4-6% whereas Glodyne Tech, Opto Circuits, Bajaj Finserv, Arvind and Educomp Solutions lost 3-5%.

About 1085 shares advanced while 1187 shares declined on the Bombay Stock Exchange.