Slide in crude prices lift equity indices
Mumbai: Slide in global crude oil prices along with expectations of healthy quarterly results pushed the key indices of the Indian equity market higher during the morning trade session on Tuesday.
According to market observers, healthy buying was witnessed in oil and gas, banking, automobile and consumer durables stocks.
Around 9.35 a.m., the broader Nifty50 of the National Stock Exchange (NSE) traded at 10,987.30 points — higher by 50.45 points or 0.46 per cent — from its previous close.
The barometer 30-scrip Sensitive Index (Sensex), which opened at 36,390.99 points, traded at 36,452.51 points — higher by 128.74 points or 0.35 per cent — from its previous session’s close of 36,323.77 points.
Sensex has so far touched a high of 36,463.32 points and a low of 36,261.78 points during the intra-day trade.
“Despite the SGX Nifty showing a cut, the markets have opened in the green as per our expectations, led by oil marketing companies and Hindustan Unilever,” said V.K. Sharma, Head – PCG and Capital Market Strategy for HDFC Securities.