Sensex up 150 points; gains in IT, oil and gas stocks

Benchmark equity indices recovered after opening lower today, led by gains in shares of information technology, and oil & gas companies. Investors exercised caution ahead of the Federal Reserve's two-day monetary policy meeting, starting later today.

At 12:05 PM, the BSE Sensex was trading at 33,073, up 150 points, while the Nifty50 index was trading at 10,147, up 52 points.

The BSE Midcap and the BSE Smallcap indices up 0.46% and 0.22%, respectively.

Nifty IT was up 1%, snapping a three-session losing streak, led by gains in shares of Tech Mahindra and Infosys. The index was the top gainer among all the sectoral indices on NSE.

Shares of oil & gas companies rose, led by gains in shares of Hindustan Petroleum Corp, Bharat Petroleum Corp, and Reliance Infrastructure. Nifty Energy was up 0.5%.

Shares of Uttam Galva Steels were 1% higher on reports the company has proposed to settle a Rs5,650cr loan by paying 51% of the outstanding amount upfront to the public sector banks.

Videocon Industries stock gained 0.50% after the company exited insurance business by selling its holdings in Videocon General Insurance Company Ltd.

Shares of Binani Cement's hit 5% upper circuit on the BSE. UltraTech agreed to issue a letter of comfort for its increased bid to the cement maker’s lenders for termination of insolvency proceedings at the Kolkata bench of the NCLT.

Volatility index India VIX slipped 1.95% to 15.5100.

Infratel (+4.8%), Tata Steel (+4%), Tech Mahindra (+2.3%) and Eicher (+2.1%) were the top gainers on Nifty50.

M&M (-1.2%), Cipla (-1%), NTPC (-1%), IOC (-1%), M&M (-1.3%) and Aurobindo (-0.54%) were the top losers in today’s trade.

Out of 2,019 stocks traded on the NSE, 832 advanced, 806 declined and 381 remained unchanged today.

A total of five stocks registered a fresh 52-week high in trade today, while 106 stocks touched a new 52-week low on the NSE.

 

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