Mumbai: Key equity indices reversed initial losses to end higher, as global crude oil prices eased and as investors cheered lower-than-expected gains in wholesale prices.
“Today’s rise can be attributed to healthy buying sentiment after the major correction last week, as well as crude oil’s descent from $85 a barrel to near $80,” Astha Jain, Senior Analyst, Hem Securities, told IANS.
Wholesale price inflation accelerated 5.13 per cent on year in September, gaining pace from August’s 4.53 per cent, due to a rise in food and fuel prices.
The NSE Nifty closed at 10,472.50, up 40 points, or 0.38 per cent.
The benchmark S&P BSE Sensex settled at 34,865.10, up 131.52 points or 0.38 per cent.
The Sensex touched an intra-day high of 35,008.65 and a low of 34,559.98.