Sensex, Nifty erase opening gains; ONGC up 2%
Domestic benchmark indices opened higher led by a rise in shares of automobile, metal and infrastructure companies.
At 10:55 AM, the BSE Sensex was trading at 33,815, up mere 2 points, while the Nifty50 was ruling at 10,446, up 11 points.
Bajaj Auto's total sales in December increased to 2.92 lakh units in last month of passing year, from 2.25 lakh units sold in year-ago. Stock rose 1%.
Shares of Oil and Natural Gas Corp were up 2%, the leading gainer on the Nifty50, on reports that the company has made a significant oil and gas discovery to the west of its prime Mumbai High fields in the Arabian Sea.
Shares of Prestige Estates Projects rebounded from two consecutive sessions of losses and climbed nearly 4% after the company said its board has approved buying out Singapore-based CapitaLand Ltd's stake in various retail joint ventures for Rs342cr.
The Nifty Auto index was up 0.6%, rebounding from near-1% losses on Monday, due to over 1% gains in shares of Mahindra & Mahindra and Tata Motors.
Shares of metal and infrastructure companies were also firm in early trade, backed by the 6.8% growth in the index of eight core industries in November, the highest growth rate in over a year.
The Nifty Metal index climbed 0.6%, while the Nifty Infrastructure index was 0.7% higher.
All Nifty sectoral and thematic indices were 0.3-0.8% higher in early trade.
The BSE Mid-cap and BSE Small-cap indices were down 0.34% and 0.30%, respectively.
Volatility index India VIX rose 1.64%
ONGC (+1.7%), HCL Tech (+1%), Bajaj Auto (+1.05%), M&M (+1.04%) and NTPC (+0.91%) were the top gainers on Nifty50.
Eicher (-2.5%), Indiabulls HF (-1.3%), HPCL (-1.2%), BPCL (-1.2%) and SBI (-1.1%) were the top losers in today’s trade.
Out of 1,993 stocks traded on the NSE, 661 advanced, 917 declined and 415 remained unchanged today.
A total of 59 stocks registered a fresh 52-week high in trade today, while one stocks touched a new 52-week low on the NSE.
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