In a highly volatile market, the benchmark indices picked up from the morning losses, and in the last hour of trading, the index jumped to their significant levels, helped by ICICI Bank, Reliance Industries and Infosys.
The BSE Sensex closed at 37,385-mark rising 281 points, while the NSE Nifty gained 93 points at 11,075.90. Except for Nifty Pharma, the entire sectoral indices closed in the green.
Bharat Petroleum, Indian Oil, Titan, GAIL and Vedanta were the major Nifty gainers, while Indiabulls-HF, Sun Pharmaceuticals, Dr.Reddys, BhartiAirtel, and HDFC Bank were the major losers.you are looking for newly updated stock Tips and nifty future trading tips go through our blog.
Strong gains were generated by Banking, Auto, Metal, and realty gained over one percent each.
Oil company’s stocks were in support of falling crude oil prices to nearly USD60/bbl amid worries about a slow-down in the global economy.
The Nifty Energy index surged over 2.24% at 14,727-levels. Bharat Petroleum Corp (BPCL) and Indian Oil Corp (IOC) were among the top gainers in the energy index, up by 6.38 and 4.82% respectively, followed by Hindustan Petroleum Corp (HPCL) and Gail India by 3.46 and 2.86% each.
Shares of BPCL emerged after media reports suggested that the Centre is mulling a plan to sell its stake to a global oil company.
At the economic front, investors hoped for a rate reduction in October policy meet after the CPI data of August month showed below the Central Bank level of 4pc. According to the data, India’s retail inflation for August inched up to 3.21pc from 3.15pc in July 2019. Markets are expected to be bullish in the week ahead.