Stock Market

Sensex, Nifty continue to skid; Maruti, Cipla, Tata Steel gainers


Chillicious Team

The marlet continues to skid dragged by capital goods, IT and metals. The Sensex is down 241.59 points or 0.9 percent at 24552.37, and the Nifty down 64.60 points or 0.9 percent at 7467.20. About 1066 shares have advanced, 950 shares declined, and 123 shares are unchanged.

Hindalco, Cipla, Maruti, ONGC and Tata Steel are top gainers while Infosys, BHEL, Reliance, L&T and TCS are losers in the Sensex.

Oil prices held most of the previous day’s strong gains today, but while a dive in US gasoline stockpiles fuelled hopes for a pick-up in demand, traders remain on edge over the long-running supply glut.

Both main contracts soared, with US benchmark West Texas Intermediate hitting a more than three-month high and Brent breaking USD 41 after the US energy department report.

The figures showed gasoline inventories plunged three times faster than expected while the country’s commercial crude stockpiles rose almost two-thirds less than forecast.