The Sensex is up 230.54 points or 0.8 percent at 29450.66 and the Nifty is up 61.90 points or 0.7 percent at 8906.50. About 1339 shares have advanced, 698 shares declined, and 165 shares are unchanged.
Oil marketing companies (OMCs) are under pressure. CLSA sees the Budget to be negative for refiners as every 1 percent increase in duty will pull down gross refining margins by USD 0.3 per barrel. Both HPCL and BPCL are down 1-2 percent.
Brent is up around 15 percent this month from January's close of USD 52.99, on course for its biggest monthly gain since May 2009.
Oil marketing companies (OMCs) are under pressure. CLSA sees the Budget to be negative for refiners as every 1 percent increase in duty will pull down gross refining margins by USD 0.3 per barrel. Both HPCL and BPCL are down 1-2 percent.
Brent is up around 15 percent this month from January's close of USD 52.99, on course for its biggest monthly gain since May 2009.
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