Sensex, Nifty end higher as Crude prices ease

Updated: Tuesday, June 24, 2014, 15:28 [IST]

Indices

The Sensex and the Nifty ended the day higher as crude prices eased in trade. The Sensex ended the day with gains of 337 points, while the Nifty rallied with gains of 86 points. Leading the set of gainers from the Nifty were oil and gas stocks with GAIL jumping 4 per cent, while Reliance rallied almost 2 per cent in trade. ONGC too gained in the last 30 minutes after reports that there have been recommendations to hike the price of LPG.

The other set of gainers from the Nifty were Tata Motors, Tata Power and HDFC. Shares of sugar companies soared today for second day in a row after the government announced interest-free loans for cash-strapped mills and hiked import duty. Shree Renuka, Bajaj Hindusthan, Sakhthi Sugars Simbhaoli Sugars were up anywhere between 2-7 per cent.

Select banking stocks were in demand with Bank of Baroda, Bank of India, Canara Bank and Federal Bank being among the gainers.

Shares in Gammon Infra were locked at the upper end of the circuit filter for a second day running, after the company announced fund raising plans through QIP.

Bharti Airtel which had rallied on reports of takeover of Loop operations ended the day flat, after initial gains.

Mid cap stocks continued to soar with HPCL, Ashok Leyland, IFCI, JSW Energy, Power Finance and Reliance Cap among the gainers. However, Bata India and Bharat Forge were weak in trade.

Meanwhile, markets across Europe were trading little changed with the German DAX down 2 points and the French CAC marginally up.

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