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Sensex, Nifty opens in red; OMCs gain

Share Source By

Dion Global

26 Dec 2018

Indian benchmark indices opened lower on Wednesday amid global rout taking cues from their Asian peers. All sectoral indices are trading in the red, with maximum cuts visible among automobiles, IT, metals and pharma seeing the most pain. Aviation stocks of Jet Airways, Spice jet, Interglobe Avi are buzzing in trade today because of lower crude prices. The shares of IOC, HPCL, BPCL and other oil marketing companies are trading higher on the back of lower crude oil prices. Asian equities were shaky on Wednesday following the plunge in Wall Street on Christmas eve in the face of a series of unnerving US political developments.

The rupee opened 26 paise higher at 69.88 against the US dollar amid a sharp fall in crude oil prices. The domestic unit Monday recovered by 4 paise to close at 70.14, aided by weak crude oil prices and the dollar's losses in global markets due to political uncertainty in the US. Oil prices followed equities down, tumbling more than 6 per cent to the lowest level in over a year. US crude futures settled at $42.53 a barrel, down $3.06, or 6.7 per cent. Brent crude futures settled down $3.35, or 6.2 per cent, at $50.47 a barrel.

At 9:29AM BSE SENSEX was at 35212.39 down by -257.76 points or by -0.73 % and then NSE Nifty was at 10593.45 down by -70.05 points or by -0.66 %.

The top gainers of the BSE Sensex were Coal India Ltd. (Rs. 250.05,+0.54%), Asian Paints Ltd. (Rs. 1360.00,+0.29%), Oil And Natural Gas Corporation Ltd. (Rs. 148.10,+0.17%), Housing Development Finance Corporation Ltd. (Rs. 1904.40,+0.13%), among others. YES Bank Ltd. (Rs. 178.40,-2.03%), Kotak Mahindra Bank Ltd. (Rs. 1217.45,-1.63%), Sun Pharmaceutical Industries Ltd. (Rs. 417.00,-1.52%), Tata Consultancy Services Ltd. (Rs. 1887.60,-1.46%), Hindustan Unilever Ltd. (Rs. 1758.55,-1.40%), among others were the top losers of the BSE Sensex.

BSE Oil & Gas index was at 13519.17 up by 8.86 points or by 0.07%. Hindustan Petroleum Corporation Ltd. (Rs. 249.65,+1.44%), Indian Oil Corporation Ltd. (Rs. 136.80,+1.30%), Bharat Petroleum Corporation Ltd. (Rs. 369.35,+1.22%), Oil And Natural Gas Corporation Ltd. (Rs. 148.10,+0.17%), Oil India Ltd. (Rs. 174.45,+0.11%). Whereas in BSE PSU the index was at 7097.46 up by -19.65 points or by -0.28%. Chennai Petroleum Corporation Ltd. (Rs. 284.90,+2.33%), Mangalore Refinery And Petrochemicals Ltd. (Rs. 73.80,+1.44%), Hindustan Petroleum Corporation Ltd. (Rs. 249.65,+1.44%), Indian Oil Corporation Ltd. (Rs. 136.80,+1.30%), Bharat Petroleum Corporation Ltd. (Rs. 369.35,+1.22%).

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1391 , shares advanced were 316 while 1008 shares declined and 67 were unchanged.