Nifty climbs above 23,850; oil & gas shares advance

The domestic equity barometers extended gains in the morning trade. The Nifty traded above the 23,850 mark. Oil & gas shares advanced for the second consecutive trading session.

At 10:30 ST, the barometer index, the S&P BSE Sensex, was up 301.26 points or 0.39% to 78,840.48. The Nifty 50 index added 99.10 points or 0.42% to 23,852.70.

In the broader market, the S&P BSE Mid-Cap index added 0.38% and the S&P BSE Small-Cap index rose 0.63%.

The market breadth was strong. On the BSE, 2,326 shares rose and 1,263 shares fell. A total of 167 shares were unchanged.

Buzzing Index:

 

The Nifty Oil & Gas index rose 1.09% to 10,805.95. The index added 1.03% in two consecutive trading sessions.

GAIL (India) (up 2.71%), Indraprastha Gas (up 2.33%), Castrol India (up 2.26%), Mahanagar Gas (up 2.06%) and Gujarat Gas (up 2.06%), Gujarat State Petronet (up 1.65%), Oil India (up 1.58%), Hindustan Petroleum Corporation (up 1.19%), Petronet LNG (up 0.91%), Bharat Petroleum Corporation (up 0.66%) added.

Stocks in Spotlight:

Biocon added 2.26% after the company and Zentiva, its European partner, received a de-centralized procedure (DCP) approval for its complex formulation, Liraglutide, in the European Union (EU).

Oberoi Realty rose 0.69%. The company said that it has executed a development agreement for development of land measuring approximately 81.05 acres, equivalent to 3,28,010 square meters, situated at village Tekali, Taluka Alibaug, District Raigad, Maharashtra.

Whirlpool of India added 2.30%, while PG Electroplast (PGEL) rose 2.74% after the company signed a definitive agreement for contract manufacturing select models of Whirlpool-branded semi-automatic washing machines.

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