INSUBCONTINENT EXCLUSIVE:
The Sensex ended 60 points higher at 33,940 while Nifty settled at 10,417.
The Sensex and Nifty closed higher on Wednesday amid volatile trade, extending their
winning streak to a fifth straight day
Gains in IT, metal and pharma stocks helped offset losses in oil gas and banking stocks
Sentiment was also subdued on concerns that inflation worries could resurface on the back of rising crude oil prices
Brent crude futures surged more than 3 per cent on Tuesday to their highest since late 2014, leading to a selloff in shares of oil marketing
The Sensex ended 60 points higher at 33,940 while Nifty settled at 10,417."Rising oil prices will bring back inflation worries and currency
fluctuations are something to be looked into following the easing up of trade tensions, especially with China being the largest reserve for
dollars," said R K Gupta, managing director of Taurus Asset Management.Chinese President Xi Jinping and US President Donald Trump both
struck conciliatory tones on Tuesday, which analysts hoped could open the door for negotiations to avert a trade war."We will see
stock-specific movements as earnings come in," said Gupta
Software services exporter Infosys Ltd will kick-start the January-March corporate results season on Friday.Investors await March retail
inflation data due on Thursday for cues about the economy
Retail inflation likely eased to a five-month low in March as increases in food prices slowed once again but remained above the RBI's
medium-term target, a Reuters poll found.Oil marketing companies slumped following reports that the government is asking these firms to
Hindustan Petroleum Corp closed 7.7 per cent lower, Bharat Petroleum Corp plunged 7.5 per cent while Indian Oil Corp settled 6.7 per cent
lower.Financials were also among the top losers, with Nifty PSU Bank index ending 2.3 per cent lower
It had gained more than 7 per cent in the last four sessions
gainers, Vedanta surged 4.5 per cent while TCS, Sun Pharma, Eicher Motors and HCL Tech finished with gains of 2-2.6 per cent.
