Nifty likely to extend upward move

The broader market closed in the red with BSE Mid-Cap down 0.33 per cent while Small-Cap fell 0.50 per cent.

Sebi tightens disclosure norms for credit rating agencies

Credit rating agencies have also come under the scanner in the IL&FS case.

Brent crude futures soared 3.84 per cent to USD 62.27 per barrel after attacks on two oil tankers in Gulf of Oman.

The broader NSE Nifty inched up 7.85 points, or 0.07 per cent, to close at 11,914.05.

Traders attributed the decline in silver prices to reduced offtake by industrial units and coin makers at the local spot market.

Foreign fund outflows and cautious opening in domestic equities added pressure to the domestic unit.

The 30-share index was trading 130.35 points, or 0.33 per cent, lower at 39,626.46.

It was a volatile day yet again with Sensex touching a high of 39,982.10 and then falling to a low of 39,623.53 in intra-day trading.

The Indian currency has strengthened by 31 paise in the last two sessions.

The broader NSE Nifty fell 59.40 points, or 0.50 per cent, to close at 11,906.20.