Indian Stocks Eke Out Gains Ahead of Holidays as Crude Oil Drops
- Brent is down more than 15 percent from 2018 high in October
- Lower oil price is a big positive for India stocks: Inditrade
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Indian shares eked out gains ahead of holidays as crude oil resumed its decline, reducing the cost of the nation’s biggest import, and as profits at top 50 companies mostly matched or exceeded analyst estimates.
The benchmark S&P BSE Sensex climbed 0.1 percent to 34,991.91 at the 3:30 p.m. close in Mumbai after fluctuating at least 10 times between loss and gain in the last 90 minutes. Tata Consultancy Services Ltd. -- Asia’s biggest software exporter -- paced the rally among Sensex members, while Vedanta Ltd. dropped the most. Investors will make ceremonial purchases in a one-hour trading session on Wednesday to mark Diwali, the festival of lights. Markets will be fully closed on Thursday.