Friday, January 4, 2013
Market Ends on Flat Trend: Nifty is above 6000
The NSE 50-share Nifty closed the week above the 6000-mark and the Sensex rose 1.8 percent to close the week at 19767, as oil companies such as ONGC rose on hopes a proposed change in the government's pricing formulas would boost gas prices, while IT stocks rose on expectations for a better 2013. Business at the end of the fourth day I was strong recovery in the market. 19 784 19 points higher Sensex and Nifty closed at 6016 up by 7 points.
After showing a slowdown in midcap stocks come shopping and Nifty gained 0.3 per cent. Light up the whole business appeared in small stocks and BSE Smallcap gained 0.35. Cabinet note on increasing diesel oil being released by the Ministry of Oil and Gas shares rose 1 percent. Government stocks also gained 1 percent.
For the day, the BSE index provisionally gained 0.02 percent, while the 50-share NSE index ended up 0.11 percent, both marking their highest closes since January 2011. Motilal Oswal said Oil India, Oil and Natural Gas Corp, and Reliance Industries would be the biggest beneficiaries of the proposed formula, which involves volume-weighted international prices for gas producers.
Indian Oil Corp closed up 5.9 percent, Hindustan Petroleum Corp gained 4 percent, while Bharat Petroleum Corp closed up 3.2 percent.