The
market is slightly losing its morning gains. The Sensex is up 91.82 points at
28426.45 the Nifty is up 26.60 points at 8503.95. About 1303 shares have
advanced, 1354 shares declined, and 92 shares are unchanged. Oil stocks are
weak dragged majorly by Reliance and ONGC. HDFC, HUL and M&M are among the
laggards. Metal stocks are still seeing good buying interest with gainers like
Hindalco and Tata Steel. Infosys,
Tata Power and BHEL are up 2-3 percent. Oil
prices could plunge to USD 60 a barrel if OPEC does not agree a significant
output cut when it meets in Vienna this week, market players say. Brent crude
futures have fallen 34 percent since June to touch a four-year low of USD 76.76
a barrel on November 14, and could tumble further if OPEC does not agree to cut
at least 1 million barrels per day (bpd), commodity fund managers say.
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