Business Today

ONGC up 1.5%, Cairn 2% on result hopes

Shares of ONGC went up 1.58 per cent, while that of Cairn India rose 2 per cent, as market expectations of smart numbers by the oil and gas majors rose.

twitter-logoPTI | October 28, 2010 | Updated 13:08 IST

Oil and Natural Gas Corporation (ONGC) and Cairn India shares rose as much as two per cent in the morning trade on the Bombay Stock Exchange (BSE), on hopes of good September quarter numbers to be announced on Thursday.

Shares of ONGC went up 1.58 per cent to touch an early high of Rs 1,323 on the BSE, on expectations of smart numbers by the oil and gas major, and emerged the third-biggest performer among the Sensex companies after Bharti Airtel and HDFC Bank.

Similarly, positive expectations lifted shares of Cairn India as well, which rose over two per cent to reach its early high of Rs 328.75.

Both the companies displayed good show at the National Stock Exchange, too, where ONGC rose 1.65 per cent and Cairn was up 0.93 per cent.

Led by the surge in these stocks, the BSE oil & gas index was trading higher by 63 points at 10,987.05.

Meanwhile, the BSE Sensex was trading at 20048.54, up 43.17 points.

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