Metal, IT major gainers in Wednesday’s trade
Benchmark indices swung between positive and negative zones to finally close the day with marginal gains. Investors adopted a cautious stance ahead of the earnings season which will kick off this Friday and the release of the minutes of the Federal Reserve’s March 18 meeting, later on Wednesday.
Adding to investors' woes was a sudden spike in global crude oil prices, which crossed the $70 a barrel mark.
In the global commodities markets, Brent for June 2018 settlement was down 38 cents at $70.66 a barrel. However, the contract surged $2.39 a barrel, or 3.48%, to settle at $71.04 a barrel during the previous trading session.
On the sectoral front, the PSU banking index on the NSE lost over 2% in trade on Wednesday. On the other hand, information technology (IT) and metals indices witnessed gains of over 1%.
The BSE Sensex rose 60 points to 33,940 and the Nifty 50 index advanced 15 points to 10,417.
Gainers:
Metal stocks gained for the second, straight day after aluminum prices rose on the London Metal Exchange.
HFCL stock soared 4% after it bagged an order worth Rs579cr from Bharat Sanchar Nigam Limited (BSNL) for building a 2G-GSM base service set network in Assam.
Losers
HPCL, BPCL, and IOC were the biggest losers among the Nifty50 stocks after crude oil price crossed a four-year-high.
Alkem Labs stock dropped 3% after it received 13 observations from the USFDA.
Adding to investors' woes was a sudden spike in global crude oil prices, which crossed the $70 a barrel mark.
In the global commodities markets, Brent for June 2018 settlement was down 38 cents at $70.66 a barrel. However, the contract surged $2.39 a barrel, or 3.48%, to settle at $71.04 a barrel during the previous trading session.
On the sectoral front, the PSU banking index on the NSE lost over 2% in trade on Wednesday. On the other hand, information technology (IT) and metals indices witnessed gains of over 1%.
The BSE Sensex rose 60 points to 33,940 and the Nifty 50 index advanced 15 points to 10,417.
Gainers:
Metal stocks gained for the second, straight day after aluminum prices rose on the London Metal Exchange.
HFCL stock soared 4% after it bagged an order worth Rs579cr from Bharat Sanchar Nigam Limited (BSNL) for building a 2G-GSM base service set network in Assam.
Losers
HPCL, BPCL, and IOC were the biggest losers among the Nifty50 stocks after crude oil price crossed a four-year-high.
Alkem Labs stock dropped 3% after it received 13 observations from the USFDA.
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