Sensex moves higher; Oil & gas, FMCG up

Indian markets held on firmly to early morning gains Monday led by gains in oil&gas and index major Reliance Industries. Most sectoral indices were in the green with an exception to IT space which remained subdued. “If Nifty maintains above 5080 for some days then it’s quite clear that Nifty is headed towards the 5200-5350 in coming days. Support for the Nifty is placed at 4940-4870 and unless Nifty breaks this support area then we don’t see any threat to this current uptrend,” said Nirmal Bang report. At 12:22 pm, Bombay Stock Exchange’s Sensex was at 17,162.06, up 140.21 points or 0.82 per cent. The index touched an intraday high of 17180.68 and low of 17045.02. National Stock Exchange’s Nifty was at 5099.20, up 46.75 points or 0.93 per cent. The broader index retreated after touching intraday high of 5104.55. It touched a low of 5052.10 in trade so far. BSE Midcap Index was up 0.49 per cent and BSE Smallcap Index moved up 1.06 per cent. Amongst the sectoral indices, BSE Oil&gas Index jumped 2.46 per cent, BSE FMCG Index moved 1.44 per cent higher and BSE Healthcare Index gained 0.83 per cent. BSE IT Index was down 0.26 per cent. Shares of Reliance Industries were reacting to the company’s offer for ല്യോന്ടെല്ല്‍ബസേല്‍

(EconomicTimes )