Coal News We love to talk!

JUN 20 2012

Oil & gas stocks push Sensex up 154 points

  • Economic Times, ET Bureau / Hyderabad
  • Created: Wed 20th JUN 2012

The Indian markets saw a light bounceback on Tuesday, a day after the RBI policy announcement saw markets tank by about 2 per cent.

The BSE Sensex ended the day at 16,860, up 154 points (0.9 per cent) from its previous close. The NSE Nifty was up 40 points (0.8 per cent) from its previous close to end the day at 5104.

"This was expected as the market was making up for the losses of the day before. This is nothing but a small knee-jerk reaction. Investors are just paring their losses, said Mr. Shrikant Shetty, an independent market analyst.

The rally in the day was led by oil&gas stocks said analysts. The oil&gas stocks reacted to comments made on the sideline of the G-20 summit that oil prices could be deregulated and therefore, subsidies would be lower. The BSE Oil&Gas sector index was up 2.1 per cent.

The other sector stocks which rose by one per cent were the FMCG, Healthcare and PSU stocks.

The top five Sensex stocks were GAIL, RIL, ITC, Bharti Airtel and ONGC. The top five laggards were Sterlite Industries, BHEL, Infosys, Tata Power and Jindal Steel.

Tags

Sterlite Industries Ltd (MALCO) Gas Oil ONGC Reliance Industries limited Bharat Heavy Electricals Ltd Indus RBI Sterlite Forward Markets Commission Power Tata Power

Related News

  • Gulf Oil to dilute 90% in UK entity  Read more
  • Over 60,000 consumers fail to clear electricity dues in Maharashtra  Read more
  • Jodhpur discom staffs asked to keep a check on power thefts  Read more
  • HPCL reworks fiscal pact for Rajasthan refinery, work to start  Read more
  • Escalation Factors for the Purpose of Payment as per the Competitive Bidding Guidelines for Case-1 & Case-2  Read more
  • Indias fuel demand surges 6.7 per cent in October on higher auto fuel use  Read more
  • Govt to sell CIL stake tomorrow  Read more
  • NHPC's Parbati-III plant resumes power generation  Read more
  • JSPL close to firming up technical partner for coal-to-liquid project in Odisha  Read more
  • Declining air quality due to greenhouse gases biggest global challenge: Goyal  Read more