India’s Sensex Gains for Third Day on Crude; Hindalco Leads
This article is for subscribers only.
Indian stocks climbed for a third day as a decline in oil prices eased concerns of inflationary pressures.
Hindalco Industries Ltd., the aluminum producer which also controls the Atlanta-based Novelis Inc., rallied 4.3 percent as the metal’s price rose in London. Oil dropped from the highest in more than two years to $105.5 a barrel as a larger increase in U.S. crude inventories than analysts predicted overshadowed threats to supplies from the conflict in Libya and the Middle East. Bharat Heavy Electricals Ltd., the top power-equipment maker, reached a two-week high. Tata Motors Ltd., the biggest truckmaker advanced for the fourth day.