Nifty Gains; Sensex Set For Longest Winning Run In 10 Years

20 April, 2018, 01:25 | Author: Barbara Daniel
  • The BSE Sensex had risen 1,375.99 points or 4.17% in the previous nine sessions

Sensex opened 100 points higher than the yesterday's closing of 34,331.68 and was trading at 34,411.66 at 11:18 am.

At 3.30 p.m., the wider Nifty50 on the National Stock Exchange (NSE) provisionally closed higher by 39.10 points, or 0.37 per cent, at 10,565.30 points.

The Sensex fell 321.77 points in the intra-day from its days high of 34,591.81 to close the session at 34,331.68, down 63.38 points or 0.18 per cent from its previous days close.

The broader NSE Nifty was up 0.16 percent at 10,565.10 as of 0554 GMT, on track to post its longest winning run since late January 2015.

Tata Steel, YES Bank and Bharti Airtel were the top Sensex gainers.

The BSE market breadth was bullish with 1,396 advances and 1,251 declines.

Meanwhile, shares of state-run oil refiners tumbled and were the top percentage losers on the NSE index as oil prices remain close to late 2014-highs on the back of declining US crude inventories, while top exporter Saudi Arabia pushed for higher prices.

TCS stock is up 0.50% ahead of Q4 results later in the day.

On the stock front, oil retailers HPCL, BPCL and International Olympic Committee were down between 4 percent and 7 percent after sharp rally in crude prices but state-owned oil exploration companies ONGC rose 1 percent and Oil India climbed 3 percent.

HPCL slumped 6 per cent while Bharat Petroleum Corp Ltd fell almost 7 per cent. The shares of Axis Bank slumped 2.60 per cent while that of M&M, IndusInd Bank and Hero Motocorp dropped 1.55 per cent, 1.23 per cent and 0.97 per cent respectively.

Rising copper prices in the global commodity markets cheered metal and mining stocks back home.

The US Dow Jones Industrial Average ended 0.87 percent higher in yesterday.

According to the provisional data, FPIs offloaded shares worth rs 915.71 crore.

Meanwhile, shares of state-run oil refiners tumbled and were the top percentage losers on the NSE index as oil prices remain close to late 2014-highs on the back of declining USA crude inventories, while top exporter Saudi Arabia pushed for higher prices.

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