Sensex up 80 points; Mindtree, Vedanta stocks gain

Sensex up 80 points; Mindtree, Vedanta stocks gain

The market recouped previous day's losses on Thursday even as crude oil prices hit multi-year highs, with the Sensex gaining almost 100 points.

The 30-share barometer was trading higher by 93.37 points, or 0.27 percent, at 34,425.05, with banking, IT, infrastructure and capital goods stocks leading the trend.

A day after taking breather, Indian stock market ended in the green on buying in financials, engineering, metals and IT counters.

The Sensex fell 321.77 points in the intra-day from its days high of 34,591.81 to close the session at 34,331.68, down 63.38 points or 0.18 per cent from its previous days close. JSW Steel, Tata Steel, Sail also gained between 3-4 per cent.

On the other hand, the broader 51-scrip Nifty at National Stock Exchange (NSE) opened at 10,578.90 points after closing at 10,548.70 points.

The benchmark BSE Sensex was 0.2 percent higher at 34,465.17, on track to mark its longest gaining streak since early October 2007.

Gainers that supported the upmove were ONGC, Tata Steel, Adani Ports, ITC, Dr Reddy's, Asian Paints, L&T, Yes Bank and Reliance Industries, rising up to 2.15 per cent.

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Information technology stocks bounced back from recent losses with the NSE IT index rising 1.14 percent.

Oil prices extended gains after settling close to 3 percent higher in the previous session on fall in USA crude inventories and after sources told Reuters that top exporter Saudi Arabia is seeking to push oil prices higher.

Meanwhile, shares of state-run oil refiners tumbled and were the top percentage losers on the NSE index as oil prices remain close to late 2014-highs on the back of declining USA crude inventories, while top exporter Saudi Arabia pushed for higher prices.

Meanwhile, the TCS stock closed 0.99% or 31 points higher at 3190 level ahead of the firm's Q4 earnings announcement.

According to the provisional data, FPIs offloaded shares worth rs 915.71 crore.

The US Dow Jones Industrial Average, however ended 0.16 per cent lower in yesterday's trade.

The rupee weakened by another 14 paise, nearing a fresh seven-month low of 65.78, against the USA dollar in early trade at the interbank forex market today on fresh demand for the greenback from importers and banks.

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