Thursday 18 August 2016

Nifty eyes 8700, Sensex firm; BHEL, ICICI, Bharti top gainers

The Sensex is up 132.07 points or 0.5 percent at 28137.44, and the Nifty up 49.25 points or 0.6 percent at 8673.30. About 1544 shares have advanced, 770 shares declined, and 150 shares are unchanged. 

Adani Ports, Bharti Airtel, ICICI Bank, NTPC and BHEL are top gainers while Coal India, Tata Steel, L&T, GAIL and Asian Paints are losers in the Sensex.

 Oil prices eased slightly in Asia today amid reports OPEC kingpin Saudi Arabia would further raise output in August. 

Prices hit five-week highs this week, supported by hopes that a Russian-Saudi cooperation may reach a pact to freeze output, easing the stubborn supply glut dogging the market since late last year. 

OPEC members and their non-OPEC rivals are to meet informally in Algeria next month, and both Saudi and Russia have indicated they could discuss measures to stabilise prices.

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