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Oil & Gas, IT Lift Indian Markets
Tue, 3 Mar 03:30 pm

Indian markets hit 9,000 level mark after providing a weak opening. BSE Sensex is trading with a gain of 0.50% or 150 points while NSE-Nifty is trading with a gain of 0.44% or 40 points. BSE Mid Cap and BSE Small Cap gained 1.2% and 1.4%, respectively at the time of writing. Silver prices fell nearly Rs 122 or 0.33% to Rs 36,524 per kilogram while gold prices fell by Rs 15 or 0.06% to Rs 26,495 per 10 grams. The value of Indian Rupee is almost unchanged at Rs 61.86. Crude oil price fell about 0.64% and is trading near Rs 3,129 per barrel.

Investor confidence in European markets cemented after its largest economy, Germany provided better than expected retail sales data. German DAX is trading 0.40% higher while FTSE is trading 0.26% higher.

Information Technology sector has the gained in today's trading session. Tata Consultancy Services (TCS) has led the gains from the front among the Nifty 50 stocks. Stock price of the company gained nearly 3% after TCS was adjudged as UK's top employer by Top Employers Institute. Moreover, this accreditation has been received by the company for the fifth consecutive year.

Another sector which gained during today's session form the front is the Oil & Gas sector. Stock price of Reliance Industries Limited increased more than 4.5% after the Finance Ministry slashed the excise duty hikes. Additionally, these cuts will be refurbished by levying road cess. On one hand, the excise duty on diesel has been cut in the range of Rs 3.5 - Rs.4 while on the other the road cess has increased from Rs 2 to Rs 6.

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