Selling continues in Dalal Street as
the Nifty drags. The the Sensex is down 231.07 points or 0.9 percent at
25542.54, and the Nifty down 69.20 points or 0.9 percent at 7821.55.
ONGC, SBI, Dr Reddy's Labs, L&T
and Reliance are top gainers while Maruti, BHEL, Bajaj Auto, Hero MotoCorp and
Tata Motors are loser. Infosys, HDFC twins, ITC and TCS are dragging the
indices.
Crude hit fresh 2016 highs in its
march toward USD 50 in Asia today, fanned by escalating wildfires in Canada's
oil sands region and hopes of an easing in the oversupply.
Prices have shot up after US banking
giant Goldman Sachs this week said that supply disruptions in Africa's biggest
oil producer Nigeria -- along with better demand -- had created a surprising
short-term supply deficit.
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