The Indian market opens for trade the first day of a new week on a soft note and then pulls back into the green following a huge rally in OMCs. The opening wasn’t good as investors cheered the Government’s decision to hike prices of diesel, LPG and kerosene. Naturally, public sector oil companies have rallied as the Government’s move will help them cut their losses and improve their liquidity situation.
Sensex is at 18380, up 139 points from its previous close, and Nifty is at 5520, up 48 points. CNX Midcap index is up 0.03% and BSE Smallcap index is down 0.02%. Market breadth is negative with the Small-Cap and Mid-Cap indices also in the red.
Top Gainers: ONGC, Bharat Petroleum, Oil India, Hindustan Petroleum and Indian Oil Corp.
Top Losers: Havells India, Jet Airways, Nestle India, HCL Technologies.