Barometers hits fresh life highs; Oil & gas shares advance

The key equity benchmarks marched higher and hit a fresh all-time high in mid-afternoon trade. The Nifty traded above the 21,900 level. Oil & gas shares extended gains for the fourth consecutive trading session.

At 14:27 IST, the barometer index, the S&P BSE Sensex, was up 920.02 points or 1.28% to 72,641.20. The Nifty 50 index added 249.30 points or 1.15% to 21,896.50.

The benchmarks, Nifty50 and Sensex hit a fresh all-time high of 21,928.25 and 72720.96 respectively .

In the broader market, the S&P BSE Mid-Cap index rose 0.41% and the S&P BSE Small-Cap index gained 0.62%.

The market breadth was positive. On the BSE, 2,192 shares rose and 1,622 shares fell. A total of 108 shares were unchanged.

Buzzing Index:

The Nifty Oil & Gas index added 1.27% to 10,000.55. The index jumped 2.88% in the four trading sessions.

Oil & Natural Gas Corporation (up 4.56%), GAIL (India) (up 2.96%), Mahanagar Gas (up 2.09%), Gujarat State Petronet (up 1.72%), Indian Oil Corporation (up 1.43%), Indraprastha Gas (up 0.95%), Reliance Industries (up 0.84%), Hindustan Petroleum Corporation (up 0.73%), Bharat Petroleum Corporation (up 0.19%) and Adani Total Gas (up 0.1%) edged higher.

Numbers to Track:

The yield on India`s 10-year benchmark federal paper added 0.01% to 7.175 as compared with previous close 7.165.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 83.0850, compared with its close of 83.0100 during the previous trading session.

MCX Gold futures for 5 February 2024 settlement added 0.64% to Rs 62,182.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was down 0.5% to 102.25.

The United States 10-year bond yield shed 0.07% to 3.970.

In the commodities market, Brent crude for March 2024 settlement added $1.92 or 2.48% to $79.33 a barrel.

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