Nifty hovers around 8300; OMCs rally on fuel price hike

The Sensex is up 97.43 points at 27421.43 and the Nifty is up 28.50 points at 8290.85. About 1381 shares have advanced, 742 shares declined, and 134 shares are unchanged.

Oil marketing companies are in focus as petrol and diesel price was hiked by Rs 3.13 a litre and Rs 2.71 per litre respectively. Hindalco is up 3 percent while Dr Reddy’s Labs, GAIL, ONGC and Bharti Airtel are top gainers in the Sensex. Among the losers are Tata Motors, HUL, Hero Motocorp, Wipro and SBI.

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Posted in: Indian Market Tips