Sensex gains 96 points as L&T, HDFC Bank, Yes Bank, TCS, Tata Steel lead; metals rally, OMCs dive

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Published: April 19, 2018 4:23:31 PM

Indian stock markets ended on a positive note on Thursday with Sensex and Nifty finishing marginally higher as a sustained rise in shares of blue-chip companies such as L&T, HDFC Bank, Yes Bank, TCS and Tata Steel steered the benchmark to close in the green.

During the day, the benchmark Sensex shuttled between 34,478.82 and 34,358.91. (Image: Reuters)

Indian stock markets ended on a positive note on Thursday with Sensex and Nifty finishing marginally higher as a sustained rise in shares of blue-chip companies such as L&T, HDFC Bank, Yes Bank, TCS and Tata Steel steered the benchmark to close in the green. The S&P BSE Sensex added 95.61 points or 0.28% to conclude at 34,427.29 whereas NSE Nifty went up by 39.1 points or 0.37% to end at 10,565.3 on Thursday. A contrary trade was observed in the scrips of metal and oil marketers led by LME hitting nearly a 7 year high and Brent crude rising to a 4-year peak.

Shares of Tata Steel, Yes Bank, Bharti Airtel, L&T, Power Grid, Dr Reddy’s and TCS emerged as the only notable gainers among the components of BSE Sensex on Thursday rising 0.9 to 3.2%. At the closing, the major movers were Tata steel (up 3.17%), Yes Bank (up 2.83%), Bharti Airtel (up 2.64%), L&T (up 1.74%), Power Grid (up 1.61%), Dr Reddy’s (up 1.6%) while the stock of TCS ended 0.99% higher at Rs 3,190.65 ahead of its fourth-quarter earnings release. During the day, the benchmark Sensex shuttled between 34,478.82 and 34,358.91.

The stocks oil marketers IOCL, BPCL and HPCL were worst hit on Thursday with Brent crude oil prices hovered near a four-year high as Saudi Arabia pushed for higher prices. Today was the second consecutive day of losses in the share prices of oil companies. BPCL crashed 7.11% to a 19-month low of Rs 376.4, HPCL dropped 5.62% to Rs 14-month low of Rs 301.65 while the share of IOC plunged 4.09% to a 15-month low of Rs 158.2 on Thursday.

While, on the other hand, metal stocks saw a sudden spike in the stock prices after LME aluminium prices jumped 5% to a 7-year high of $2,664.5 per tonne today. Following which shares of Hindustan Copper, Tata Steel, Vedanta, Nalco, Hindalco, Jindal Steel, JSW Steel, SAIL, Tata Steel and MOIL gained 2 to 12%.

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