Stock Market

Sensex, Nifty jump 1%; BHEL & Tata Steel up 4-5%, Maruti down


Chillicious Team

The market is still on fire as the Sensex is up 247.42 points or 1 percent at 24490.40, and the Nifty is up 69.55 points or 0.9 percent at 7438.40. About 1283 shares have advanced, 776 shares declined, and 102 shares are unchanged.

BHEL, Tata Motors, Tata Steel, L&T and Hindalco are top gainers while ICICI Bank, Maruti, Lupin, NTPC and SBI are major losers.

Oil prices held steady today in Asian hours despite a rise in US inventories, with traders hoping talks among major producers could lead to an output cap. Crude, which in January was wallowing near 13-year lows below USD 30 a barrel -hit by overproduction and a supply glut — has steadily picked up recently as dealers are buoyed by the fact there are talks.

But analysts doubt it will have much effect in the near term on crude prices, which are about 70 percent off their mid-2014 highs.