Coal India, ICICI Bank amongst key Nifty gainers as Banks, Financials, Metals, Oil & Gas index lead the market rally
Tata Steel and JSW steel saw gains of more than 1% , Hindalco Industries with gains of close to 1%, were trading firm. Coal India however with strong gains of more than 2% was amongst top 5 Nifty gainers.
Also Read- Adani Ent share price, other group stocks surge up to 15% Crude oil prices have fallen substantially and Brent crude from highs of close to $100 a barrel in September is down and trading close to $80 a barrel now. This has improved outlook for Oil marketing companies as HPCL, BPCL, IOCL.
The upstream Oil producers are also likely to keep reporting firm net realizations with reduction in windfall taxes as Brent crude prices decline. BPCL with gains of more than 3% and ONGC with gains of more than 2% were amongst key Nifty gainers.
Nifty realty index with gains of more than 1% remained another key contributor to gains in the indices. Also Read- Adani Power, REC, ACC, Cyient, others lead midcap, smallcap indices at record high The Auto stocks were favorable contributors to the rally with Mahindra and Mahindra, Eicher Motors gaining more than 2% and Hero MotoCorp and Bajaj Auto gaining more than 1%.
Though a mixed bag November auto numbers with muted growth in Commercial vehicles and weak entry level passenger vehicle growth meant that Tata Motors was trading with some gains while Maruti Suzuki India Ltd was amongst losers. Milestone Alert!
Livemint tops charts as the fastest growing news website in the world
