ONGC shares up by more than 2% as oil prices rise; Nifty, Sensex seeing some volatility at the start of day

Indian equity markets are seeing some volatility at the start of the day today . At 10:35 a.m. IST, Nifty 50 is up by 2.35 points or 0.0091%. Sensex is down by 6.45 points or 0.0077%.  Market sentiments have been dampened today after US President Donald Trump said that countries doing trade with Iran will face additional 25% import tariff.

Most of the broad market indices at NSE are in green at this time. Nifty Small cap 50 index is up by 0.25% at this time. Nifty Small cap 250 index is up by 0.36%. Nifty Microcap 250 index is up by 0.45%.

Among sectoral indices, Nifty Metal index is the top gainer at this time. It is up by 0.51%. Nifty PSU bank index is up by 0.42% at this time. Nifty Pharma index is the top loser among sectoral indices at this time. It is down by 0.96%. Nifty Healthcare index is down by 0.90%.

ONGC shares gaining as oil prices go up

Top 3 gainers at Nifty 50 at this time are Eternal, ONGC and Hindalco. Top 3 losers are L&T, Dr Reddy’s and Cipla. ONGC shares are up by 2.06% at this time. This after oil prices increased sharply today. This rise follows President Trump’s statement that Washington is considering military strike on Iran. He also said that countries doing trade with Iran will face additional 25% import tariffs. These measures may disrupt the supply of Iranian oil to the global market.

Market breadth very positive

Market breadth is very positive at this time. 1970 stocks are gaining at NSE at this time. 850 stocks are declining. That is an advance – to –decline ratio of around 2.3. At NSE 50 stocks have touched 52-week high by this time today. 61 stocks have touched 52-week low.

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Source: NSE