Sharp fall in crude oil price helped the market.
Sensex closed 513 points up at 18240.68 and Nifty closed at 5471.25, 151.25 points in green.
Positive global cues and the much awaited EGoM (Empowered Group of Ministers) meeting on fuel prices were some of the major triggers for the market.
Finance Minister Pranab Mukherjee has decided to up diesel prices by Rs 3 per litre while LPG rates have been raised by Rs 50 per cylinder excluding VAT.
Brent crude declined 6% yesterday as IEA (International Energy Agency) surprised energy markets by saying 60 million barrels would be released over 30 days to fill Libya gap.
The diesel price helped the following companies
ONGC closed at Rs.272.80, 3.12% up
IOC closed at Rs.336.90, 2.46% up
Bharat Petroleum Corporation closed at Rs.634.70, 2.84% up
Petronet LNG closed at Rs.143.95, 3.15% up
Hindustan Petroleum closed at Rs.392.60, 6.14% up
I think this positive rally will not continue further more. But within 6 months we can see Sensex at 21000 level.
Regards Hari " लोका समस्ता सुखिनो भवन्तु "
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