Mid-Session: Sensex up 70 pts, Nifty trade above 8,750; oil&gas stocks zoom 4% 06/10/2016 12:25

Mid-Session: Sensex up 70 pts, Nifty trade above 8,750; oil&gas stocks zoom 4%
06/10/2016 12:25

NIFTY Fut               : BUY ZONE
BANKNIFTY FUT : BUY ZONE

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The Indian equities continued to trade higher in late morning deal on Thursday, led by strong gain across oil & gas and PSU space, tracking a bullish trend across markets in Asia. An improved outlook for Asia’s third biggest economy amid the 25 basis points interest rate cut by the Reserve Bank of India (RBI) this week which may help revive investment and boost consumption, also supported sentiment at Dalal Street.

At 12:15 PM, the Bombay Stock Exchange bellwether Sensex was at 28292.39, up by 71.41 points or by 0.25 per cent, and the NSE Nifty was at 8769.2, up by 25.25 points or by 0.29 per cent.

On the corporate space, Indian Oil Corporation (IOC) jumped over 6 per cent in intra-day on the Bombay Stock Exchange after the company fixed October 19, 2016 as the record date for the purpose of ascertaining the eligibility of shareholders for issuance of bonus shares in the ratio of 1:1.

On the sectoral front, oil&gas and PSU stocks were leading the gain, adding as much as 3.91 per cent and 1.52 per cent respectively.