Thursday, January 17, 2013
Nifty Sensex gain early, Active Stock tips today
Although no directive has come from the government on diesel price hike, stocks in the oil & gas shot up after petroleum ministry authorised oil marketing companies (OMC) to make fuel price corrections from time to time. The OMCs are expected to make a price-hike announcement tonight. It also allowed raising LPG subsidy cap to 9 cylinders from 6 cylinders earlier. The Finance Minister made it clear that will be no change in governement's subsidy plan. The Sensex was closed at 19964 up by 146 points or 0.74% and the Nifty is up by 37.35 points or 0.78% at 6039.
Stock Of the Day:
Refinery major HPCL rose 8.5 percent, BPCL was up 5.7 percent, Oil India rallied 4.06 percent. Reliance, IOC and ONGC rallied 2.86 percent, 7.4 percent and 4.08 percent, respectively.
Telecom stocks also rallied after the Cabinet decided to slash CDMA spectrum price by 50 percent. Bhart Airtel was the top gainer on Sensex, rising 3.07 percent. Reliance Comm rose 3.27 percent, and Tata Comm rose above 1 percent each. Bharti Infratel and Idea turned flat after a short rally.