The price of petrol was hiked by 25 paise from Rs.87.60 per litre to Rs 87.85 per litre, and diesel was increased by 30 paise from Rs.77.73 per litre to Rs.78.03 per litre in Delhi, according to Indian Oil Corporation, the country’s largest fuel retailer. Meanwhile, in Mumbai, the revised petrol and diesel rates stood at Rs.94.36 per litre and Rs.84.94 per litre respectively, the highest among all four metros.

Petrol and diesel prices have recorded an upswing since January 6, 2021 after staying unchanged for almost a month. The fuel rates have increased amid a rally in global crude oil prices, with COVID-19 vaccination drives beginning across the world.

Oil marketing companies – Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum align the prices of domestic fuel with the global benchmarks, by taking into account any changes in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.

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The Sensex was up by 86 points and the Nifty by 23 points. The Nifty closed above 11,400 points, indicating that the stock market will continue to rise. 11,377 is the key pressure level of the Nifty. The market is gaining strength on the back of two consecutive days of trading above this level.

The Sensex ended at 38,614 points. The Sensex had gained 38,788.51 points in the morning trade. Similarly, the Nifty closed at 11,408 points. The Nifty is currently trading at its highest level of 11,460 points.

Twenty eight stocks in the Nifty gained while 22 stocks lost ground. Bharti Airtel, Maruti Suzuki, ICICI Bank, United Phosphorus and Indian Oil Corporation were the top five gainers in the Nifty. These stocks gained over one per cent.

Bank and metal stocks were the main gainers on the day. Punjab National Bank rose 4.41 per cent. Federal Bank, Bank of Baroda and RBL Bank gained over 2% each. Leading metal major National Aluminum rose 70 per cent. Metal stocks have been steadily gaining over the past few days.

Bajaj Auto, ONGC, Nestle India, Kotak Mahindra Bank and Britannia were the top five losers in the Nifty. Bajaj Auto fell 1.20 per cent.

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