Sensex Rallies Over 100 Points, Petrol And Diesel Prices Revised Upwards

Sensex rallies over 100 points and reached 26,842 points after good gains in Axis Bank, HDFC, Maruti Suzuki and Tata Steel. Nifty reclaims the level of 8200 with gain support of Power, Oil & Gas, Metal, Auto and Telecom stocks. Gold dropped Rs 74 to Rs 28,554 and Silver is trading on Rs 38,410 per kg. Crude oil dropped Rs 50 to Rs 3,282 while Natural Gas is trading currently on Rs 153.90.

Petrol price on Tuesday hiked by Rs 2.58 per litre and Diesel rate was increased by Rs 2.26 a litre and is implemented all over from Tuesday midnight itself, second increase in rates by this month. Last hike was implemented on May 16 when Petrol prices were increased by 83 paise and Diesel rates were revised upwards by 1.26 per litre. After Tuesday's revision, Petrol prices now in Delhi are Rs 65.60 per liter while that of Diesel are 53.93 per litre. Reason behind the increase in Petrol and Diesel prices are likely the increase in price of crude oil and the uneven up-downs in the rates of Indian currency  Rupee against Dollar. Non-Subsidy LPG gas cylinder rates also increased. Over the past one month gas cylinder rates increased by Rs 39 and yet in this year this is the fourth time hike in gas cylinders rate. Revised rates in Delhi are 548.50.