The 30-share BSE Sensex added nearly 200 points in today's trade as well led by strong support from heavyweights like ICICI Bank, Reliance Industries, Infosys, BHEL, Bharti Airtel and ITC, which rallied 1-3% at 14:02 hours.
DLF, HDFC Bank, ONGC, Hindalco, HUL, Sterlite, SBI, Cipla, HDFC, L&T, Jaiprakash Associates, Tata Steel, Tata Power and ACC too were quite supportive.
The Nifty rallied 60 points to 5,474 and the Sensex was trading at 18,182, with gaining 194 points. The BSE Midcap and Smallcap indices gained over 0.5%.
However, experts believe that crude oil remains a big concern for Indian market. Alroy Lobo, Chief Strategist & Global Head- Equity Asset Management, Kotak AMC says crude oil prices continue to be a dominant factor affecting market sentiment.
“If oil prices go below USD 100 a barrel, India will be positively viewed.” Global newsflow, from Japan to the Middle East has also been factored in by the market, he adds. “Given where valuations are, you could see perhaps maybe 5-8% downside to the market.”
London Brent crude was trading around USD 116 a barrel and NYMEX crude future was holding the USD 105 a barrel on rising tensions in Middle East & North Africa.
TCS, M&M, Cairn, Reliance Capital, Bajaj Auto and Tata Motors were only losers on Nifty.
The Nifty rallied 60 points to 5,474 and the Sensex was trading at 18,182, with gaining 194 points. The BSE Midcap and Smallcap indices gained over 0.5%.
However, experts believe that crude oil remains a big concern for Indian market. Alroy Lobo, Chief Strategist & Global Head- Equity Asset Management, Kotak AMC says crude oil prices continue to be a dominant factor affecting market sentiment.
“If oil prices go below USD 100 a barrel, India will be positively viewed.” Global newsflow, from Japan to the Middle East has also been factored in by the market, he adds. “Given where valuations are, you could see perhaps maybe 5-8% downside to the market.”
London Brent crude was trading around USD 116 a barrel and NYMEX crude future was holding the USD 105 a barrel on rising tensions in Middle East & North Africa.
TCS, M&M, Cairn, Reliance Capital, Bajaj Auto and Tata Motors were only losers on Nifty.
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