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Nifty Oil & Gas stocks advance; Adani Total Gas, Reliance, GAIL among top gainers

Gujarat State Petronet was the top laggard while Indraprastha Gas and Petronet LNG also traded in the red after Q2 earnings.

November 10, 2021 1:10 IST | India Infoline News Service
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Nifty Oil & Gas Index advanced 0.75% amid bearish markets on Wednesday. Adani Total Gas and Gujarat Gas led the gains while GAIL also outperformed. Oil India was also higher ahead of a quarterly earnings announcement. Reliance was also bullish.

Gujarat State Petronet Limited was the top laggard while Indraprastha Gas sank post Q2 earnings. Petronet LNG also traded in the red after Q2 earnings.

Globally markets saw profit booking due to higher crude prices. In India, after big cuts in petrol and diesel prices following centre and states reducing taxes, fuel prices have remained broadly unchanged.

Sensex was lower over 200 pts, Nifty gives up 18000. At around 12.10 pm, BSE Sensex was trading at 60,213.81 down 219.64 points or 0.36% and Nifty50 at 17,978.00 down 66.25 points or 0.37%. Nifty Oil & Gas was trading at 8,017.50 up 54.50 points or 0.68% touching a high of 8,019.30 and low of 7,943.05 during intraday trade on Wednesday.

Adani Total Gas rose over 2.2% at Rs1,610.00 per piece to emerge the top gainer. Gujarat Gas was 1.9% higher at Rs657.50 per piece. GAIL India spurted over 1.1% at Rs152.35 per piece. Oil India was 1% higher at Rs224 per piece. Heavyweight Reliance also advanced 1% at Rs2,546.80 per piece to push up the index. ONGC was also 0.7% higher.

BPCL, IOC and Hindustan Petroleum were trading flat. 

Gujarat State Petronet shed 1.6% at Rs312.25 per piece to weigh in the most. Indraprastha Gas and Petronet LNG were also lower post Q2 earnings. 

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