The market continues its rally ahead of September quarter earnings. The Sensex is up 237.26 points or 0.9 percent at 27083.07 and the Nifty is up 63.45 points or 0.8 percent at 8192.80. About 1464 shares have advanced, 777 shares declined, and 94 shares are unchanged.
Vedanta, Hindalco, Tata Steel, ICICI Bank and Tata Motors are top gainers in the Sensex. Among the losers are Coal India, Sun Pharma, TCS, BHEL and Wipro.
Oil prices extended their recent rally in Asia on Friday on hopes that increasing demand and a decline in US crude production would ease a supply glut that has depressed the market for more than a year.
The two main crude contracts hit a six-year low during the April-September quarter owing to a fears about an oversupply, China's economic crisis and expectations for a US interest rate rise.
However, they have surged recently as the US Federal Reserve shows signs it will hold off hiking rates -- a rise would strengthen the greenback, making dollar-priced oil more expensive - while recent data from Beijing have soothed nerves.
Read More – free nifty tips
Vedanta, Hindalco, Tata Steel, ICICI Bank and Tata Motors are top gainers in the Sensex. Among the losers are Coal India, Sun Pharma, TCS, BHEL and Wipro.
Oil prices extended their recent rally in Asia on Friday on hopes that increasing demand and a decline in US crude production would ease a supply glut that has depressed the market for more than a year.
The two main crude contracts hit a six-year low during the April-September quarter owing to a fears about an oversupply, China's economic crisis and expectations for a US interest rate rise.
However, they have surged recently as the US Federal Reserve shows signs it will hold off hiking rates -- a rise would strengthen the greenback, making dollar-priced oil more expensive - while recent data from Beijing have soothed nerves.
Read More – free nifty tips
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