Thursday 2 June 2016

Market cools off slightly, oil steady post OPEC meet; HUL up 2%

The market has cooled off a bit with the Sensex up 97.23 points or 0.4 percent at 26940.37. The Nifty is up 25.30 points or 0.3 percent at 8244.25.

 Axis Bank, HUL, Bajaj Auto, Hero MotoCorp and ICICI Bank are top gainers while Lupin, Bharti Airtel, GAIL, TCS and Adani Ports are losers in the Sensex.

Brent oil prices held around $50 a barrel on Friday following an OPEC meeting that failed to agree on output targets, but which was seen as supportive as Saudi Arabia pledged not to flood the market with more fuel.

The Organization of the Petroleum Exporting Countries (OPEC) failed to agree to a clear oil-output strategy on Thursday as Iran insisted on raising production to regain market share lost during years of sanctions, which were lifted in January.

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