Sensex Gains 118 Points, Nifty Settles At 10,616

NDTV Profit Team

15 Nov 2018, 03:40 PM IST

Global oil prices have lost around a quarter of their value since early October.

Domestic stock markets closed in the green on Thursday led by metal, banking and financial services shares. The S&P BSE Sensex closed 118.55 points or 0.34 per cent higher at 35,260.54, while the broader NSE Nifty settled at 10,616.70, 40.40 points or 0.38 per cent. Major advancers on both the indices -- Nifty50 and 30-scrip Sensex -- were Adani Ports, Tata Motors, Axis Bank and Hero MotoCorp, which gained between 4.2 and 1.8 per cent. Twenty-nine out of 50 Nifty stocks finished with gains. Most of the sectoral indices on NSE closed higher.

Jet Airways shares ended at Rs 326, up 26.41 per cent from the previous close, after reports emerged that Tata Sons is in pursuit of a controlling stake in the debt-laden private sector carrier.

Gains in Indian stocks were bound to happen as they had earlier corrected because of higher crude prices, said news agency Reuters citing Neeraj Dewan, director at Quantum Securities.

Investor sentiment also got a boost after foreign investors pumped fresh funds into the domestic market, said news agency Press Trust of India citing brokers. However, profit-booking at higher levels by speculators at the fag-end of the session trimmed some of the day's gains, it further added.

Among prominent laggards was Yes Bank, which closed at Rs 206, down 7.28 per cent, after non-executive independent chairman Ashok Chawla resigned. The stock was the biggest loser on the 30-scrip BSE benchmark index.

The rupee strengthened to 71.87 against the US dollar in intraday trade at the interbank foreign exchange on Thursday on fresh foreign fund inflows and easing crude oil prices. Global oil prices have lost around a quarter of their value since early October, boding well for the rupee and boosting positive sentiment as cheaper oil lightens import bill and eases inflation.

On Wednesday, foreign portfolio investors bought while domestic institutional investors sold net shares worth Rs. 277.38 crore and Rs. 272.24 crore respectively, showed provisional NSE data.

(With agency inputs)