The markets opened with minor gains notwithstanding the negative global cues. The Sensex was up 165.68 points or 0.31 percent at 53,116.31. The Nifty50 was up 47.25 points or 0.30 percent at 15,932.40 points.
The Nifty index set a new benchmark at 15982 levels in the early session. Sumeet Bagdia, Executive Director, Choice Broking said, "After a long consolidation, we have seen further breakouts in today’s trading session and nifty made new highs. If the market breaks 16,000 levels on a closing basis, a strong upside move can be seen till 16,200-16,500 levels. Overall, Nifty 5-months move was approximately 500 points, and now there is a possibility of 500 points move in the next 5 days as after a long consolidation we have seen this breakout."
Asian Paints, Tech Mahindra, HDFC, Titan were among major winners while Dr Reddy, NTPC, L&T, HCL Tech were major losers in opening session
BSE Midcap index touches fresh record peak while BSE Smallcap index hits new record high.
Fuel rates unchanged for 17th day
The oil marketing companies (OMCs) kept petrol and diesel prices unchanged for the seventeenth consecutive day on Tuesday, the longest period in weeks.
In Delhi, petrol continues to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre on Tuesday.
In Mumbai, where petrol prices crossed Rs 100-mark for the first time ever on May 29, the fuel price is at Rs 107.83 per litre. Diesel price in the city is also at Rs 97.45, the highest among the metros.
In Chennai, petrol is priced at Rs 102.49 per litre while the price of diesel is Rs 94.39 per litre. The price of petrol in Kolkata is Rs 102.08 per litre while diesel is sold at Rs 93.02 per litre.
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh and Maharashtra.
Petrol and diesel prices have been static since July 18. It last increased on July 17 with petrol being revised upwards by 30 paisa per litre, while diesel prices remained unchanged.
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