Nifty Surges Above 23,400 Amid Gains in Oil & Gas Sector
Nifty trades above 23,400 level; oil & gas shares advance
Business Standard
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The Nifty 50 index rose by 29.15 points to close at 23,410.65, while the S&P BSE Sensex increased by 28.18 points to 74,587.42. The broader market outperformed with significant gains in oil and gas shares after a four-day decline, reflecting positive market sentiment.
- 01Nifty 50 index rose 29.15 points to 23,410.65.
- 02S&P BSE Sensex increased by 28.18 points to 74,587.42.
- 03Oil & gas shares advanced after four days of losses.
- 04Berger Paints India reported a 27.75% rise in net profit.
- 05Asian markets showed mixed results amid inflation concerns.
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In mid-morning trade, the Nifty 50 index recorded a rise of 29.15 points, reaching 23,410.65, while the S&P BSE Sensex gained 28.18 points to settle at 74,587.42. The broader market outperformed, with the BSE 150 Midcap Index rising 0.68% and the BSE 250 Small Cap Index increasing 0.66%. Oil and gas shares saw a rebound after a four-day slump, with the Nifty Oil & Gas index climbing 0.45% to 11,343.55. Notable gainers included Chennai Petroleum Corporation (up 2.71%) and Oil India (up 2.08%). In corporate news, Berger Paints India reported a 27.75% year-on-year increase in consolidated net profit for Q4 FY26, amounting to ₹334.77 crore (approximately $40.5 million USD). Global markets were mixed as investors reacted to inflation data and geopolitical tensions, particularly concerning the U.S. and Iran.
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The gains in the Nifty and Sensex indicate a recovering market, which may positively affect investor sentiment and consumer confidence.
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