Shipping cos extend rally for 3rd straight day; Essar up 5%

MUMBAI: Shipping firms continued their run for the third straight session tracking recovery in the Baltic Exchange's dry sea freight index.

The index, which is in sight of an all-time low of 554 points, has risen over 12 per cent over the past four sessions.

Essar Shipping was up 4.9 percent at Rs 33.05, Mercator Lines rose 1.4 percent to Rs 35.5 while Shreyas Shipping traded at Rs 26, up 2.56 percent.

Shipbuilding firm ABG Shipyard rose 3.3 per cent to Rs 96.5 on positive business outlook while rival Bharati Shipyard was up 3.55 per cent at Rs 71.4.