India's Nifty Energy index up as oil prices fall

Nel ASA

22/05/2024 06:57

** Nifty Energy index  .NIFTYENR  up 0.76% as oil prices
fall for a third straight session
    ** Top three pct gainers on the index are Coal India
 COAL.NS  up 1.8% to a record high, Tata Power  TTPW.NS  up
1.7%, and Reliance Industries  RELI.NS  up 1.5%
    ** RELI on Tuesday signed a deal with Norway's Nel ASA
 NEL.OL  to get license for its alkaline electrolysers in India
    ** Bharat Petroleum  BPCL.NS , Power Grid  PGRD.NS  and
Indian Oil  IOC.NS  are only losers on the 10-member index
    ** BPCL and IOC pull back after two- and five- day winning
runs, respectively
    ** RELI, COAL, ONGC  ONGC.NS , and NTPC  NTPC.NS  are "buy"
rated stocks on the index - LSEG data
    ** NIFTYENR is up 23.5% YTD, compared to benchmark Nifty
50's  .NSEI  3.8% rise

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))