Indian markets gained in early trade on Friday with Sensex crossing 20,000 after the oil marketing companies (OMCs) raised diesel prices by 50 paise. The government has allowed the OMCs to change diesel prices by small amounts from time to time. It is expected the OMCs will raise diesel prices by 50 paise over next few months.
At 10.12 am, the Sensex was trading up 124.20 points or 0.62% at 20,088.23 with 18 components gaining. Meanwhile, the Nifty was trading higher by 32.60 points or 0.54% at 6,071.80 with 28 components gaining.
The 30-share benchmark index, BSE Sensex opened with a gain of 74.64 points or 0.37% at 20,038.67, while the broad based NSE Nifty started with a rise of 20.65 points or 0.34%, at 6,059.85.
Oil & Natural Gas Corporation contributed rise of 68.44 points in the Sensex. It was followed by I C I C I Bank (15.7 points), I T C (14.3 points), State Bank Of India (12.26 points) and H D F C Bank (12.2 points).
However, Wipro contributed fall of 11.56 points in the Sensex. It was followed by Mahindra & Mahindra (9.67 points), Hero Motocorp (9.09 points), Bharti Airtel (6.74 points) and Hindustan Unilever (6.53 points).
Biggest gainers in the 30-share index were Oil & Natural Gas Corporation (9.11%), G A I L (India) (3.46%), Maruti Suzuki India (3.15%), Coal India (1.59%), State Bank Of India (1.53%), and Hindalco Industries (1.51%).
On the other hand, Hero Motocorp (4.11%), Wipro (3.71%), Mahindra & Mahindra (1.86%), Bharti Airtel (1.30%), Hindustan Unilever (1.01%), and Dr Reddy`S Laboratories (0.94%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps underperformed their larger counterparts gaining 0.36% and 0.30% respectively.
The major gainers in the BSE Midcap were Amtek India (2.22%), Amtek Auto (2.11%), Aban Offshore (1.77%), Allahabad Bank (1.08%) and Alstom India (0.59%).
The major gainers in the BSE Smallcap were Aanjaneya Lifecare (1.61%), Advanta India (1.47%), Ahmednagar Forgings (0.85%), Wagend Infra Venture (0.48%) and Aarti Industries (0.1%).
Sectors in Limelight
The Oil & Gas index was at 9,582.90, up by 299.11 points or by 3.22%. The major gainers were Bharat Petroleum Corporation (6.61%), Hindustan Petroleum Corporation (6.25%), G A I L (India) (3.46%), Cairn India (1.64%) and Castrol India (0.34%).
The PSU index was at 7,874.43, up by 224.38 points or by 2.93%. The major gainers were Bank Of Baroda(1.43%), Allahabad Bank (1.08%), Bank Of India (1.03%), Andhra Bank (0.7%) and Bank Of Maharashtra (0.42%).
The Capital Goods index was at 10,562.59, up by 81.40 points or by 0.78%. The major gainers were A B B (0.66%), Alstom India (0.59%), Crompton Greaves (0.51%), Bharat Heavy Electricals (0.33%) and BEML (0.27%).
On the other hand, the Auto index was at 11,307.99, down by 73.53 points or by 0.65%. The major losers were Exide Industries (6.98%), Hero Motocorp (4.11%), Bharat Forge (0.36%), Cummins India (0.28%) and Ashok Leyland (0.19%).
Market breadth was positive with 1,134 advances against 736 declines.
Value and Volume Toppers
Indian Oil Corporation topped the value chart on the BSE with a turnover of Rs. 358.48 million. It was followed by Oil & Natural Gas Corporation (Rs. 341.06 million), Hindustan Petroleum Corporation (Rs. 311.87 million) and Reliance Industries (Rs. 195.14 million).
The volume chart was led by Essar Oil with trades of over 1.23 million shares. It was followed by Aadhaar Ventures India (1.23 million), Unitech (1.14 million) and Ashok Leyland (1.08 million).