Monday, 12 December 2016

Sensex, Nifty sluggish; Reliance, Sun Pharma, L&T gain

The market continues to see selling presure with the Sensex down 144.53 points or 0.5 percent at 26602.65. The Nifty is down 56.80 points or 0.7 percent at 8204.95. About 992 shares have advanced, 1132 shares declined, and 115 shares are unchanged. ONGC, NTPC, Reliance, Sun Pharma and L&T are top gainers while Asian Paints, Tata Motors, Bajaj Auto, Infosys and Hero MotoCorp are losers in the Sensex. Oil prices shot up by 4 percent to their highest level since 2015 early on Monday after OPEC and other producers over the weekend reached their first deal since 2001 to jointly reduce output in order to rein in oversupply and prop up the market. Brent crude futures, the international benchmark for oil prices, soared to USD57.89 per barrel in overnight trading between Sunday and Monday, the highest level since July 2015.

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