Sensex, Nifty End at Another Record as Brent Crude Oil Crashes

Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    The Sensex and the Nifty ended the day sharply lower as Brent Crude Oil Prices fell, signalling renewed hopes of an inflation drop and interest rate cuts.

    The Sensex ended the day at another record closing of 28,693 points, while the Nifty gained 94 points in trade. Leading the set of gainers were the oil marketing stocks like BPCL and HPCL which saw a surge following a sharp drop in crude prices.

    Sensex, Nifty End at Another Record as Brent Crude Oil Crashes
    However, exploration major Cairn India dropped a huge 4 per cent on worries over falling crude prices denting the company's margins.

    Banking stocks, particularly the PSU banking majors saw a huge surge with stocks like Bank of Baroda, Punjab National Bank, State Bank of India, Syndicate Bank, Union Bank, Andhra Bank and Oriental Bank of Commerce seeing a huge spike. The rally was largely on hopes that the RBI would cut interest rates going forward.

    Mid cap stocks also saw buying interest with Power Finance and Tata Chemicals leading the set of gainers.

    Realty stocks also jumped on hopes that the Reserve Bank of India would cut interest rates going forward. Stocks like Godrej and Unitech gained ground.

    Shares in 8K Miles gained 5 per cent after reports that the firm acquired SERJ Solutions.

    Meanwhile, markets in Asia gained ground, while most of Europe was trading with marginal losses.

    GoodReturns.in

    Read more about: sensex nifty
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'
    India's LARGEST EVER political poll. Have you participated yet?

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more