Indian shares flat; oil stocks jump

Dhaka,  Sat,  03 December 2016
Published : 01 Dec 2016, 15:19:40

Indian shares flat; oil stocks jump

Indian shares flat; oil stocks jump
Indian shares were flat on Thursday after four straight sessions of gains, with oil producers such as Oil and Natural Gas Corp Ltd gained.

Investors largely ignored data released late on Wednesday that showed gross domestic product expanded by an annual 7.3 per cent between July and September. 

The broader Nifty was down 0.15 per cent at 8,212.45 as of 0629 GMT, while the benchmark Sensex was 0.06 per cent lower at 26,637.36.

Oil producers rose as crude prices shot up 13 per cent, smashing trading volume records, after OPEC and Russia cut a deal to reduce output to drain a global supply glut.

ONGC rose as much as 3.4 per cent, Oil India Ltd climbed up to 3.8 per cent and Cairn India Ltd gained as much as 2.3 per cent.

However, banks fell on profit-taking. ICICI Bank fell as much as 2.4 per cent after rising 4.0 per cent on Wednesday, according to a news agency report.

-SRS-
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