Tuesday, 27 December 2016

Nifty eyes 7950, Sensex steady; Bharti, Hero, Maruti laggards

Cipla, Sun Pharma, Adani Ports, Lupin and TCS are top gainers whule Bharti Airtel, Hero, GAIL, Maruti and Bajaj Auto are losers in the Sensex. 

The market is still in green on support from few index heavyweights. The Sensex is up 59.45 points or 0.2 percent at 25866.55, and the Nifty up 15.90 points or 0.2 percent at 7924.15. About 830 shares have advanced, 870 shares declined, and 100 shares are unchanged.

Cipla, Sun Pharma, Adani Ports, Lupin and TCS are top gainers whule Bharti Airtel, Hero, GAIL, Maruti and Bajaj Auto are losers in the Sensex.

US oil prices extended gains on Tuesday in post-Christmas trading, as OPEC and non-OPEC members are set to start curbing output in less than a week to support oil prices.

Oil has been supported in the past several weeks as the Organization of Petroleum Exporting Countries and non-OPEC members have agreed to lower output by almost 1.8 million barrels per day (bpd) from Jan. 1.

Libya's oil production rose slightly to 622,000 barrels a day (bpd) on Monday, as an armed faction agreed to lift a two-year blockade on major western pipelines, the National Oil Corporation said. It said it could add 270,000 bpd within three months.
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