Comments
The Nifty and the Sensex rose in excess of 0.6 per cent on Thursday. The Nifty closed at 6039, up 37 points while the Sensex closed at 19964, up 146 points.
The rally was led by energy and realty stocks.
Market-men view the increase in diesel prices as a boost to containment of fiscal deficit.
“Overall we view this as a step in right direction as it will help government in reducing the pressure on fiscal deficit. Both Upstream and Downstream PSU companies will stand to gain as it will reduce their subsidy sharing burden and improve overall cash flows of the companies. Quantum of hike and periodicity of hike would be the key things to watch out for and overall impact on inflation. In Oil & Gas space ONGC & BPCL remains our top pick,” said a statement from Motial Oswal Securities.
Volatility was flat and the volatility index India Vix closed at 14.01 up 0.14 per cent.
HCL Tech was the top Nifty gainer due to better than expected quarterly results. BPCL, DLF, ONGC and RIL were the other top gainers on the Nifty. The top Nifty losers were Cipla, R-Infra, ACC, HDFC and Ranbaxy.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.