Sensex, Nifty Rally On Oil Price Slump, Dovish Fed Minutes
(RTTNews) - Indian shares rallied on Thursday led by broad-based buying, with underlying sentiment boosted by falling oil prices, declining U.S. yields and a weakening dollar.
Oil extended steep overnight losses as data showed a larger-than-expected build-up in U.S. gasoline inventories.
Fears of a supply disruption also eased after reports suggested that the Group of Seven nations are seeking a price cap on Russian oil in the range of $65-70 a barrel, well above the former Soviet Union's cost of production.
Positive global cues offered some support after the minutes of the Fed's early-November policy meeting showed a "substantial majority" of Fed officials supported slowing down the pace of interest rate hikes at upcoming meetings.
The benchmark S&P BSE Sensex jumped 762.10 points, or 1.24 percent, to 62,272.68, extending gains for a third straight session and closing at a record high.
The broader NSE Nifty index settled 216.85 points, or 1.19 percent, at 18,484.10 after a sharp uptick in the fag end of the session.
Among the top gainers, Tata Consumer Products, Infosys, BPCL, HDFC Life and Apollo Hospitals Enterprise surged 3-5 percent.
Canadian Market Modestly Lower; Energy Stocks Decline Sharply
German Inflation Accelerates Again To Highest This Year
Swiss Market Ends On Strong Note
Major European Markets Close On Firm Note
U.S. Job Openings Rebound To 7.227 Million In August
U.S. Consumer Confidence Index Falls To Five-Month Low In September
Chicago Business Barometer Unexpectedly Edges Lower In September
