After a downward movement in recent two days, Sensex and Nifty are gaining today.
The Sensex is up 233.51 points or 0.8 percent at 26943.64, and the Nifty is up 66.70 points or 0.8 percent at 8096.50. About 1797 shares have advanced, 431 shares declined, and 63 shares are unchanged.
Both BHEL and GAIL are up 4 percent. Tata Power, Hindalco and ICICI Bank are other top gainers in the Sensex. Among the losers are Hero, M&M, Wipro, HDFC and HUL.
Brent crude edged further above USD 61 a barrel on Thursday, after sharply lower prices forced companies to cut upstream investments around the world. Brent this week dipped to its lowest since May 2009 at USD 58.50 a barrel, falling close to 50 percent since late June due to rising production in the United States, weak economic growth and a decision by OPEC members last month not to cut output.
OPEC members which backed an output cut at the group’s meeting last month are coming around to the view of Saudi Arabia that they need to focus on market share, further reducing the chance of any action to defend prices.
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