Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Oil companies rally on petrol price hike

May 24 2012, 09:48 IST
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Indian oil companies rallied after govt allowed them to raise prices of petrol. (Reuters) Indian oil companies rallied after govt allowed them to raise prices of petrol. (Reuters)
SummaryIndian oil companies rallied after govt allowed them to raise prices of petrol.

State-run Indian oil companies rallied after the government allowed them to raise the prices of petrol, though the action was more mixed for auto stocks.

Bharat Petroleum Corp gained 3 per cent, HPCL added 2.3 per cent, while Indian Oil Corp advanced 2.7 per cent.

The impact on auto stocks was more mixed given the proportion of petrol and diesel vehicle sales are different per company.

Maruti Suzuki shares fell 2.6 per cent, while two wheeler makers Bajaj Auto fell 1.5 per cent and Hero MotoCorp lost 1.4 per cent

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