Stocks close the Day Higher, OMC stocks slip

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Post two consecutive days of losses where the benchmark indices Sensex-Nifty lost near 7-pc, the indices closed Wednesday’s session marginally higher.

The BSE benchmark Sensex settled the day with gains of 232-pts at 31685.75, while the NSE Nifty closed at 9270.90 up by 65.30-pts.

Shares of Oil Marketing fronts (OMC), such as Indian Oil Corp (IOC), Bharat Petroleum Corp (bpcl) and Hindustan Petroleum Corp (HPCL) declined sharply, after a rise in petrol and diesel excise rates.

The central govt had increased the excise duty by Rs.10/Lr on petrol and Rs.13/Lr on diesel, late Tuesday night. Shares of Yes Bank closed the day slightly lower the day when they declare its Q4FY20. Get more information on Best Stock Tips and stock future tips seek expert from our website.

Major gainers included Bajaj Finance, Mahindra and Mahindra, Gail India, HDFC bank, and ICICI Bank while Bharti Infratel, ITC, Coal India, Indian Oil Corp and Hindustan Unilver were among major losers.

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