Nov 25, 2013, 12.29 PM IST
According to Dhirendra Tiwari, head of Research, Antique Institutional Equities, crude coming off is positive as it is one of the key constituents of inflation. The fall will have a positive impact not only on prices of petroleum products by anybody who is using oil in a major way.
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Sensex, Nifty maintain strong momentum; BPCL spikes 5%
According to Dhirendra Tiwari, head of Research, Antique Institutional Equities, crude coming off is positive as it is one of the key constituents of inflation. The fall will have a positive impact not only on prices of petroleum products by anybody who is using oil in a major way.
Like this story, share it with millions of investors on M3
Sensex, Nifty maintain strong momentum; BPCL spikes 5%
According to Dhirendra Tiwari, head of Research, Antique Institutional Equities, crude coming off is positive as it is one of the key constituents of inflation. The fall will have a positive impact not only on prices of petroleum products by anybody who is using oil in a major way.
12:09
Moneycontrol BureauLive Market Commentary
The market maintained its strong momentum in noon trade supported by financials, capital goods, FMCG and oil & gas stocks.
The Sensex is up 239.30 points or 1.18 percent at 20456.69, and the Nifty is up 74.55 points or 1.24 percent at 6070. Advancing shares outnumbered declining ones by 1268 to 857 on the BSE.
According to Dhirendra Tiwari, head of Research, Antique Institutional Equities, the fall in crude is positive as it is one of the key constituents of inflation. The fall will have a positive impact not only on prices of petroleum products by anybody who is using oil in a major way.
He says the move (Iran deal) is definitely positive as it will have implications on the overall economy. If crude continues to be soft, we will have some more upside in the market, adds Tiwari.
The Brent crude prices fell by more than 2 percent today following a key deal between world powers and Iran on its controversial nuclear programme.
This led to a rise in the share price of state-run oil marketing companies. BPCL rallied 5 percent and HPCL surged 6 percent followed by IOC with 2.6 percent gains.
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