All this is happening at a time when aluminium prices in the world market are firming up.
Markets gained for the second straight session to kick-off the September F&O series on a robust note.
'An internationally established price of crude will encourage more players to invest in India, leading to enhanced domestic production which can be made available to domestic refineries,' recommends Anil Agarwal whose company Vedanta Resources has a controlling stake in Cairn India that operates the country's biggest onland oilfield in Barmer, Rajasthan.
Petrol prices on Thursday crossed Rs 73 a litre mark, the highest level since the BJP government came to power in 2014, while diesel touched a record high of Rs 64.11 a litre.
Short-covering and the propping up of net asset values have potential to boost frontline as well as second-rung names next week
Bank shares were the top losers after sharp gains last week.
Markets climb higher tracking global cues.
The FMCG index gained more than 1% on the back of stellar gains in ITC.
Among the private banking majors ICICI Bank and HDFC Bank were down 0.2%-0.5% each.
The Mukesh Ambani-led Reliance Industries Ltd (RIL) might take a write-down on the KG-D6 block.
More than 10% (40 of 498 companies) have lost at least half their market value.
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
The banking, oil and metal sectors were the top sectoral losers on the BSE, while IT stocks rendered support at lower levels.
Bank shares were the top gainer in early trades with Bank of Baroda up over 4%.
The policy statement by the RBI governor is also expected to be upbeat.
Sensex, Nifty end the day in red on unfavourable cues from global markets.
Sensex dull at close, Infosys rules, ITC drags.
The market could be influenced by events elsewhere in the world and regardless of what happens to India's economy
