O&G stocks fuel markets' rise, Nifty closes above 9800 points

Sensex, Nifty Seen Up Ahead Of Macro Data

Sensex, Nifty Seen Up Ahead Of Macro Data

The wider Nifty of the National Stock Exchange (NSE) closed at a new high of 9,816.10 points - up 30.05 points, or 0.31 per cent, over Tuesday's closing.

Meanwhile, SBI was the top gainer among the banking shares followed by ICICI Bank and Bank of Baroda, which added 0.93 and 0.52 per cent respectively. Sify Editors @ 9:50 AM: Sensex opens higherTaking a cue from global markets the key Indian equity market indices on Thursday opened higher.

Hindustan Unilever led the gainers list in the Sensex heatmap by surging 2.04 per cent. ONGC was up 1.59 per cent on reports that the proposed ONGC-HPCL deal will be completed by the end of 2017-18. Expectations of an interest rate cut by the Reserve Bank of India (RBI) after latest data showed that retail inflation has eased to a record in June and factory output growth slowed sharply in May underpinned the sentiment.

The Sensex touched a high of 31,865.69 points and a low of 31,731.43 points during the intra-day trade so far. The S&P BSE Small-Cap index was up 0.56%.

Market breadth was positive with 1407 stocks rising against 789 falling on the BSE. Shanghai Composite was up 0.33 per cent.

Gold prices rose today after US Federal Reserve Chair Janet Yellen said the central bank would only gradually tighten monetary policy, curbing speculation that interest rates would rise a couple of times this year.

Overseas, Asian stocks were trading higher as dovish comments from US Federal Reserve Chairwoman Janet Yellen improved risk-taking appetite.

In her testimony on Capitol Hill, Yellen signaled that the Fed would take a cautious approach to tightening policy in the face of an uncertain inflation outlook.

The TCS stock was trading 14 points or 0.58 percent higher at 2453 level ahead of its Q1 earnings scheduled to be announced later in the day.

■ 9.20am: Sintex Industries Ltd rose 9% to Rs32 after Morgan Stanley France SAS has bought 3.57 million shares in the company via block deal on Wednesday, according to NSE Block deal data.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.