India Sensex advances on lower oil prices

India stocks gained on investor optimism that the falling price of crude oil, the nation’s biggest import, will help companies maintain earnings growth by keeping inflation in check.

The S&P BSE Sensex index climbed 0.7 per cent to 35,048.58 as of 2:46pm in Mumbai, reversing a drop of 0.4 per cent. Reliance Industries Ltd, the country’s second largest company by market capitalization, gave the biggest boost. “Declining oil prices will add to the attractiveness of the oil marketing companies,” said Ritesh Ashar of KIFS Trade Capital Pvt. (Staff Report)