Friday, 2 January 2015

Nifty reclaims 8400, Sensex strong; metals, infra support

The market is holding on to its gains as the Sensex is up 373.30 points or 1.4 percent at 27880.84, and the Nifty is up 113.05 points or 1.4 percent at 8397.05. About 1837 shares have advanced, 857 shares declined, and 790 shares are unchanged.

HDFC, BHEL, ICICI Bank, Axis Bank and Tata Motors are top gainers in the Sensex. Top losers include M&M, Hero and Bajaj Auto.

Brent crude futures retreated from early highs above USD 58 and fell towards USD 57 a barrel on Friday as an abundance of oil erased earlier support drawn from a larger-than-expected fall in US crude stocks. US crude inventories fell by 1.8 million barrels in the last week as refineries raised production, compared with analysts' expectations of a decrease of 67,000 barrels.

Oil prices have fallen by half from last year's peak to a 5-5.5-year low, under pressure from a global glut of crude, exacerbated by the refusal of the world's top oil exporter, Saudi Arabia, to trim supply. More information please visit this site

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