Market remains upbeat amid rupee, crude recovery; OMCs gain in trade

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The market, while moving towards the second half of the trading hours, was trading higher with the BSE Sensex at 35,103 points and the NSE Nifty at 10,673 points amid the rupee and crude recovery.

The oil marketing companies, HPCL and BPCL were the top Nifty gainers. While, IT stocks, TCS, HCL Tech, Tech Mahindra and Infosys, were the top losers in trade.

The rupee opened at its two-week high, at 67.52 against the US dollar, marking way for its recovery. The domestic currency was currently trading at 67.41 against the US dollar.

The oil marketing companies rose as the oil prices eased in trade, however, the petrol and diesel prices rose for the 15th day, which is expected to keep the oil stocks in check.

The market opened in the green on Monday with the BSE Sensex trading at 34,0513 points, gaining more than 100 points and the NSE Nifty trading at 10,648 points due to the rupee, crude recovery and the global cues remaining largely strong.

On the earnings front, L&T, Oil India, Aurobindo Pharma, NTPC, NMDC, Bank of India, among others, will declare their quarterly results.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow