PTI Mumbai, Maharashtra, India
Nov 15, 2018, 05.42 PM
The BSE benchmark Sensex ended 119 points higher Thursday and the broader Nifty went past the 10,600 mark on positive investor sentiment amid easing crude oil prices and firm rupee.
The 30-share index opened a shade higher at 35,145.75 points, hovered in the range of 35,402 and 35,118.42, before ending the session at 35,260.54, with a gain of 118.55 points, or 0.34 per cent, over its previous close.
The gauge had shed 2.50 points Wednesday in a highly volatile session.
The NSE Nifty also closed 40.40 points, or 0.38 per cent, higher at 10,616.70 after shuttling between 10,646.50 and 10,557.50.
The appreciation in rupee, firming trend in other Asian markets and a higher opening of European equities too influenced market mood here.
Traders said falling crude prices in the global market was a big boost for the economy as it lightens the country's import bill burden, eases inflation and current account deficit concerns.
Global crude oil prices have fallen nearly 30 per cent to USD 65 per barrel from over USD 86 in early October. Brent crude fell 0.47 per cent to USD 65.81 per barrel.
Meanwhile, the rupee strengthened further by 44 paise to trade at 71.87 against the dollar in late afternoon trade in the forex market.
However, profit-booking at higher levels by speculators at the fag-end of the session trimmed some of the day's gains, traders added.
According to analysts, a drop in US 10-year bond yield, followed by the gradual pick up in foreign institutional investor (FII) inflow to domestic market and slide in oil prices eased the concerns of liquidity.
The NSE Nifty also closed 40.40 points, or 0.38 per cent, higher at 10,616.70 after shuttling between 10,646.50 and 10,557.50