The
Indian Share Market consolidates for second straight with support from oil,
Pharma and FMCG stocks. The Sensex is up 126.01 points at 27450.01 and the
Nifty is up 42.60 points at 8304.95. About 1452 shares have advanced, 995
shares declined, and 174 shares are unchanged. Dr Reddy's Labs is up 3 percent
while GAIL, Hindalco, Tata Power and Bharti are top gainers. On the losing side
are Tata Motors, Hero Moto Corp, NTPC, Coal India and Cipla.
Shares of oil marketing companies like HPCL , BPCL and IOC rallied 3-4 percent intraday on Monday after government increased fuel prices last week. Petrol price was hiked by Rs 3.13 a litre and diesel by Rs 2.71 per litre, the second straight steep increase in rates this month. BPCL was at Rs 782.05, up Rs 16.35, or 2.14 percent, HPCL was at Rs 624.80, up Rs 22.00, or 3.65 percent and IOC was at Rs 342.50, up Rs 6.40, or 1.90 percent on the BSE. With inputs from PTI
State-owned fuel retailers IOC, BPCL and HPCL revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight. Petrol prices had been cumulatively cut by Rs 17.11 a litre in 10 reductions between August and February and diesel by Rs 12.96 a litre in 6 cuts between October and February.
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Shares of oil marketing companies like HPCL , BPCL and IOC rallied 3-4 percent intraday on Monday after government increased fuel prices last week. Petrol price was hiked by Rs 3.13 a litre and diesel by Rs 2.71 per litre, the second straight steep increase in rates this month. BPCL was at Rs 782.05, up Rs 16.35, or 2.14 percent, HPCL was at Rs 624.80, up Rs 22.00, or 3.65 percent and IOC was at Rs 342.50, up Rs 6.40, or 1.90 percent on the BSE. With inputs from PTI
State-owned fuel retailers IOC, BPCL and HPCL revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight. Petrol prices had been cumulatively cut by Rs 17.11 a litre in 10 reductions between August and February and diesel by Rs 12.96 a litre in 6 cuts between October and February.
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