Nifty struggles below 8900; Idea, Reliance, JSPL most active

Epic Update Jindal SteelEpic Update Jindal Steel
Equity benchmarks as well as broader markets remained lacklustre in afternoon. Investors awaited Q3 GDP data, later today, to check the impact of demonetisation on economy during October-December quarter and also assembly elections results on March 11.
The 30-share BSE Sensex was down 9.48 points at 28803.40 and the 50-share NSE Nifty fell 9.65 points to 8887.05.
Idea Cellular, Reliance Industries and Jindal Steel were most active shares on exchanges.
Idea Cellular fell over 2 percent after private equity fund Providence sold its entire 3.3 percent stake in the company via block deals, especially ahead of likely merger of the company with Vodafone.
Jindal Steel hit a fresh 52-week high of Rs 129.50 today, up over a percent after brokerage houses turned bullish on the stock, citing capacity addition and likely debt reduction in global companies due to fall in coking coal price.
Reliance Industries maintained its run up, up 0.44 percent after rising over 16 percent in previous four consecutive sessions due to new tariff plans announced by Reliance Jio last week.

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