Stocks

Sensex surges 146 points, lifted by oil and gas index

Our Bureau Mumbai | Updated on March 12, 2018 Published on January 17, 2013

The Nifty and the Sensex rose in excess of 0.6 per cent on Thursday. The Nifty closed at 6039, up 37 points while the Sensex closed at 19964, up 146 points.



The rally was led by energy and realty stocks.



Market-men view the increase in diesel prices as a boost to containment of fiscal deficit.

“Overall we view this as a step in right direction as it will help government in reducing the pressure on fiscal deficit. Both Upstream and Downstream PSU companies will stand to gain as it will reduce their subsidy sharing burden and improve overall cash flows of the companies. Quantum of hike and periodicity of hike would be the key things to watch out for and overall impact on inflation. In Oil & Gas space ONGC & BPCL remains our top pick,” said a statement from Motial Oswal Securities.



Volatility was flat and the volatility index India Vix closed at 14.01 up 0.14 per cent.



HCL Tech was the top Nifty gainer due to better than expected quarterly results. BPCL, DLF, ONGC and RIL were the other top gainers on the Nifty. The top Nifty losers were Cipla, R-Infra, ACC, HDFC and Ranbaxy.



Published on January 17, 2013

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Sincerely,

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.