Sensex up 53 points on crude prices

Suresh Iyengar Mumbai | Updated on November 27, 2014 Published on November 27, 2014

Sensex gained 53 points after crude oil prices slumped to 4-year low amid intense volatility as investors rolled over their position in the futures and option segment with the November contract ending today.

The benchmark index opened marginally higher at 28398 against 28386. It touched a high of 28498 and low of 28308 before closing at 28439. Turnover on BSE was higher at Rs 3,351 crore against Rs 2,965 crore recorded on Wednesday.

In NSE, Nifty was up 18 points to 8,494.

Bank stocks were up during the intra-day trading after the Reserve Bank of India said commercial banks can extend loans to individuals against special long-term bonds issued by them for financing infrastructure projects and affordable housing.

Two airline stocks -- Spice Jet and Jet Airways -- were up one per cent and five per cent to Rs 15 and Rs 268 as international crude oil prices declined sharply.

ITC was down marginally by 0.70 per cent to Rs 361 as fresh details emerged on the proposed anti-smoking legislation.

Essar Oil declined 0.52 per cent to Rs 95 as the company said as advised by market regulator SEBI, it has put on hold to delist the company till further directions. The company had approached the stock exchanges for in-principle approval for delisting of its equity shares.

Major gainers for the day include Strides Arcolab(7%), SREI Infra (6%), Natco Pharma (5%), REL Capital (5%), Jet Airways (5%), TVS Motor (5%) and Amtek Auto (5%)

Prominent losers were Crompton Greaves (-6%), Kailash Auto Finance (-5%), Rasoya Proteins (-5%), PI Industries (-4%), Aban Offshore (-3%) and Gujarat Gas (-3%).

Published on November 27, 2014
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