BSE Sensex up 80; oil stocks surge on fall in crude prices
It was a steady session for the market in trade today. The Nifty was hovering around 5700 mark after Indian crude basket slumped to USD 97.66 per barrel. India being the net importer of crude and gold will benefit the most from recent fall in commodities.
April 18, 2013 / 12:29 IST
Moneycontrol Bureau
It was a steady session for the market in trade today. The Nifty was hovering around 5700 mark after Indian crude basket slumped to USD 97.66 per barrel. India being the net importer of crude and gold will benefit the most from recent fall in commodities.The Sensex is up 84 points at 18814 and the Nifty is up 22 points at 5711.Bharti Airtel, Ranbaxy Labs, HDFC, Larsen and BPCL are top gainers on the Nifty. NMDC, Hero Motocorp, Jindal Steel, Power Grid Corp and Cairn India are top losers.Indian oil marketing companies such as Hindustan Petroleum Corp Ltd gain on hopes recent slump in crude prices would lower the cost of under-recoveries.Hindustan Petroleum gains 2.3 percent, Bharat Petroleum Corp Ltd is up 2 percent and Indian Oil Corp Ltd gains 1.9 percent.ITC hits life time high extending gains for a sixth straight session on reports of price hikes in some categories of cigarettes.Infosys gains 0.5 percent on value buying after the stock's recent fall on company's muted revenue guidance for 2013/14. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
