Social News XYZ     

Equity indices gain as crude prices ease; banking stocks rise

Equity indices gain as crude prices ease; banking stocks rise

Mumbai, Dec 7 (IANS) The key Indian equity indices traded on a positive note on Friday afternoon supported by a decline in crude oil prices and an appreciating rupee.

Healthy buying in banking, auto and consumer goods stocks also supported the domestic equity market, analysts said.

At 1.10 p.m., the Sensex traded at 35,448.20 points, higher by 136.07 points or 0.39 per cent from the previous close of 35,312.13.

 

However, the Sensex trimmed its gains after rising over 200 points. It had opened at 35,494.86 and so far it has touched an intra-day high of 35,553.46 and a low of 35,405.02 points.

The Nifty50 on the National Stock Exchange was up 23 points or 0.22 per cent at 10,624.15, against the previous close of 10,601.15 points.

According to analysts, drop in crude oil prices was a major reason for the let-up in stock markets. On Friday, the Brent crude oil was priced at $59.40 per barrel, around 1.10 per cent lower from the previous close.

Oil prices fell as the Organization of Petroleum Exporting Countries (OPEC) delayed the output-cut decision awaiting support from Russia, a non-OPEC major oil producing country.

On the Sensex, the top gainers so far were Kotak Mahindra Bank, Asian Paints, Adani Ports, Infosys and Maruti Suzuki India, whereas the major losers were Yes Bank, Tata Steel, Wipro, Power Grid and IndusInd Bank

Facebook Comments
Equity indices gain as crude prices ease; banking stocks rise

About Gopi Adusumilli

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc. He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources. When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any. He can be reached at gopi@socialnews.xyz

Advertisements
%d bloggers like this: