ITC, Sun Pharma Stopped The Market Move
ITC, Sun pharma stopped the market move, business is going on with slight gains.
Despite a mostly negative trend in global markets, the leading stock index Sensex climbed over 100 points in early trade on Friday led by gains in big stocks like Reliance Industries, HDFC Bank, and ITC.
During this, the 30-share BSE Sensex was trading 13 points higher at 53172, after touching a high of 53,290.81 in the opening session, while the NSE Nifty rose to 15,927.
The biggest gain of more than one percent in the Sensex was in ITC.
Apart from this, Sun Pharma, Dr. Reddy’s, Reliance Industries, and HDFC were also among the top gainers.
On the other hand, HCL Tech, Tech Mahindra, ICICI Bank, Infosys, and NTPC declined.
The Sensex had risen 254.75 points or 0.48 percent to a record high of 53,158.85 in the previous session, while the Nifty was up 70.25 points or 0.44 percent at 15,924.20.
Meanwhile, international oil benchmark Brent crude fell 0.12 percent to $73.38 per barrel.
Common man upset due to rising prices of petrol and diesel, oil companies are earning huge profits.
While fuel consumers are upset due to rising oil prices, oil companies are busy earning money in the current situation.
Companies are at the forefront of increasing their margins and earning profits on the sale of Petrol and Diesel.
The margin on the retail sale of petrol and diesel by the oil marketing companies has touched an all-time high of Rs 3 per liter after the fuel prices in the country hit their current all-time high.
Meaning, while rising fuel prices are causing problems for the consumer, companies are increasing their earnings. And most of it is being taken advantage of in the current era of the Covid-19 epidemic.
According to a research report by CICI Direct.
All oil marketing companies expect companies to consolidate their earnings in the April-June quarter of FY22 on the back of rising marketing margins and better gross refining margins.
