Sensex, Nifty hold gains as buying continues; PSU oil stocks post strong gains

Last Updated: Mon, Nov 25, 2013 05:35 hrs

Thanks to sustained buying at several front line counters, the market, which opened on an upbeat note this morning on strong global cues this morning, remains well entrenched in positive territory with most of its gains intact now.

The Sensex, which rose to 20,543.54, is up 272.97 points or 1.35% at 20,490.36 at present. The Nifty is up 88.55 points or nearly 1.5% at 6084, off the day's high of 6095.60.

ICICI Bank is trading 3.7% up on sustained buying at the counter. Larsen & Toubro, Hero Motocorp, Tata Motors, HDFC Bank, ITC, State Bank of India, Maruti Suzuki, ONGC, Cipla, Sesa Sterlite, Hindalco, BHEL and Jindal Steel & Power are up 1.5% - 3%.

Tata Power, Bajaj Auto, HDFC, Reliance Industries, Mahindra & Mahindra, Sun Pharmaceutical Industries and Coal India are also trading notably higher.

Jaiprakash Associates, Axis Bank, Bank of Baroda, DLF, Punjab National Bank, Kotak Bank, IndusInd Bank and Ultra Tech Cement are up 2% - 4%.

Ambuja Cements, ACC, Asian Paints, IDFC, NMDC, Cairn India, Grasim Industries and Ranbaxy Laboratories are also up with strong gains.

Thanks to a sharp fall in crude oil prices, shares of state run oil marketing firm are trading notably higher this morning.

Hindustan Petroleum Corporation has jumped 5.6%, BPCL is trading higher by a little over 3% and Indian Oil Corporation is up by about 2.6% now.

MRPL is trading 7.8% up, Aban Offshore is up 5.7%, Chennai Petro is trading nearly 5% up, GAIL India is trading 1.2% up and Oil India is up with a gain of 0.7%.

GVK Power & Infrastructure Ltd has informed BSE that Aurizon and GVK Coal Infrastructure (Singapore) Pte Ltd (GVK Hancock) have reached a significant milestone towards their proposed transaction for the joint development of a rail line and a new coal terminal at the existing Abbot Point Port to unlock the Galilee Basin’s coal resources, including GVK Hancock’s Alpha, Alpha West and Kevin’s Corner coal projects. The stock is trading 2.8% up from its previous closing price.

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