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Sensex gains 270 pts, Nifty at 10,814; Vedanta up 2%

Share Source By

Dion Global

27 Dec 2018

Indian benchmark indices opened nearly 1 per cent higher on Thursday taking cues from their Asian peers which have risen following an overnight rise in Wall Street. Among sectors, all of them are in the green, with maximum gains visible among banks, consumption, IT, and metals, among others. Yes Bank, Sun Pharma, and Indiabulls Housing gained the most, while Power Grid, Asian Paints, HPCL and BPCL have lost the most. US oil prices on Thursday extended their sharp climb from the session before amid rising stock markets but worries over a glut in crude supply and concerns over a faltering global economy kept a lid on gains. Brent crude oil futures had yet to trade. They rose 8 per cent to $54.47 a barrel the day before. The rupee opened 14 paise higher at 70.20 against the US dollar. Minutes later, the currency slipped further to 70.27.

At 9:22 AM BSE SENSEX was trading at 35919.81 up by 269.87 points or by 0.76 per cent and then NSE Nifty was at 10814.4 up by 84.55 points or by 0.79 per cent.

The top gainers of the BSE Sensex were Vedanta Ltd. (Rs. 201.60,+2.54%), Sun Pharmaceutical Industries Ltd. (Rs. 421.25,+1.75%), Tata Consultancy Services Ltd. (Rs. 1921.90,+1.71%), Oil And Natural Gas Corporation Ltd. (Rs. 149.05,+1.57%), IndusInd Bank Ltd. (Rs. 1580.90,+1.52%), among others. On the flip side Power Grid Corporation of India Ltd. (Rs. 194.70,-0.61%), Bharti Airtel Ltd. (Rs. 320.35,-0.26%), Asian Paints Ltd. (Rs. 1359.80,-0.18%), were among the top losers of the BSE Sensex.

On the sectoral front metal and IT stocks were among top gainers on BSE, rising as much as 1.27 per cent and 1.26 per cent, respectively.

The Market breadth, indicating the overall strength of the market, was weak. On BSE out of total shares traded 1114 , shares advanced were 872 while 199 shares declined and 43 were unchanged.