Sensex ends up 160 points, financial stocks flat

Nov 27, 2018, 16:49 IST | IANS

Buying was witnessed in IT, energy and Teck (Technology, entertainment and media) stocks while the financials closed flat

Sensex ends up 160 points, financial stocks flat
Representational Image

The key equity indices advanced for a second straight session on Tuesday, as a precipitous fall in global crude oil price has boosted the domestic currency, luring foreign investors back.

Buying was witnessed in IT, energy and Teck (Technology, entertainment and media) stocks while the financials closed flat.

The Sensex settled up 159.06 points or 0.45 per cent at 35,513.14, from its previous close of 35,354.08. It touched an intra-day high of 35,555.16 and a low of 35,262.97.

The Nifty50 gained 57.00 points or 0.54 per cent to finish at 10,685.60.

The Nifty PSU Bank Index gained 1.15 per cent after the Centre late Monday announced it would pump Rs 42,000 crore into the debt-laden banks by March.

Currently, 11 of the 21 state-run banks are under the central bank's Prompt corrective action (PCA) framework, restricting their ability to lend and expand branches.

Crude oil prices traded at $60.24 per barrel, while the rupee rose to 70.74 per US dollar from its previous close of 70.87.

The decline in crude oil price, which has crashed over 30 per cent since its 4-year peak on October 3, comes on bets demand will slow amid a supply glut.

The Brent crude had slipped below $60 a barrel in just a month following the US move to let eight countries, including India and China, continue buying oil for six months from Iran despite its sanctions.

India is the third-largest importer of crude oil. According to India Ratings and Research (Ind-Ra), a change of $1 per barrel in global crude price will impact the country's import bill by Rs 61.6 billion.

Catch up on all the latest Crime, National, International and Hatke news here. Also, download the new mid-day Android and iOS apps to get latest updates

This story has been sourced from a third party syndicated feed, agencies. Except for the change in the headline, the story has been provided "AS-IS," "AS AVAILABLE, without any verification or editing from our side. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

DISCLAIMER: mid-day and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

Unusual and Shocking Christmas Traditions Around the World

Related News

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK