Sensex Ends Higher On Strong Asian Cues; Oil Price Rebound

Business

oi-Sunil

By Sunil Fernandes

Updated: Thursday, February 18, 2016, 15:33 [IST]

Benchmark indices ended the day strong as oil prices saw a rebound and Asian markets rallied in trade. Markets ended the day with gains, building on the sharp rally seen on Wednesday.

The Sensex closed the day with gains of 267 points, while the Nifty gained 83 points in trade. Leading the set of gainers was Dr Reddy's Labs, along with Hindalco and Hero Motor Corp. Shares in ONGC ended higher by almost 4 per cent, after a solid rebound in oil prices. The stock had hit a 52-week low last week.

ICICI Bank, which hit a fresh 52-week low on Wednesday saw some value based buying after reports that the bank was planning to look at retail loans to clear the NPA mess. The stock was up almost 3 per cent in trade.
Quick Heal, which got listed today, ended the day lower by a huge 15 per cent. The stock many analysts felt were over priced at the time of the IPO.

Kalindee Rail gained ground after reports that the Cabinet Committee on Economic Affairs had approved the construction of six railway lines and a railway bridge.

Maruti Suzuki, Axis Bank and Tata Steel were the top losers in trade from the Nifty.
Meanwhile, markets across Europe, which opened the day higher saw some selling pressure after a robust rally seen on Wednesday. The German DAX and the French CAC were higher in trade.

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