10:08 am Market check: The market slips into red. TheSensex is down 62.75 points or at 28867.60 and the Nifty is down 23.10
points at 8752.90. About 1035 shares have advanced, 837 shares declined,
and 158 shares are unchanged.
The market is still holding up some portion of early gains. The Sensex is up
97.64 points at 29028.05, and the Nifty is up 24.55 points at 8800.55. About
1126 shares have advanced, 699 shares declined, and 141 shares are unchanged.
HDFC, ICICI Bank, Cipla, Sesa Sterlite and Tata Power are top gainers in the
Sensex. Among the losers are Sun Pharma, Hindalco, Maruti, Hero and GAIL arelaggards.
Oil prices climbed in Asia as news of a deal to end a strike at US
refineries helped reverse losses that had been fuelled by another leap in US
inventories. US benchmark West Texas Intermediate (WTI) rose 12 cents to USD
47.17 and Brent climbed 31 cents to USD 57.39 in late-morning trade. WTI sank
USD 1.12 in New York and Brent tumbled 46 cents in London yesterday after a
government report showed surging US stockpiles, adding to a global oversupply.
The US Department of Energy on Wednesday said inventories hit a fresh record
high of 448.9 million barrels last week, while stockpiles at the Cushing terminal
hub in Oklahoma --the price settlement point for WTI, also increased. More information
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