Sensex Tops 60k As Oil Prices Fall; Nifty Nears 17,950
(RTTNews) - Indian shares surged for a fourth straight session on Wednesday as falling oil prices helped ease worries around inflation and interest-rate hikes.
The benchmark S&P BSE Sensex ended the session up 417.92 points, or 0.70 percent, at 60,260.13 - surpassing the key 60,000 mark for the first time since April 5.
The broader NSE Nifty index jumped 119 points, or 0.67 percent, to close at 17,944.25.
Financials led the surge, with Bajaj Finance, HDFC Life and Bajaj FinServ rallying 3-6 percent. Telecom major Bharti Airtel and automaker Hero MotoCorp both added around 3 percent.
On the losing side, Cipla, Maruti Suzuki India, Mahindra & Mahindra, Tata Motors and Apollo Hospitals Enterprise all fell about 1 percent.
Oil prices fluctuated today after having slumped to six-month lows the previous day on economic slowdown worries and the prospects for increasing Iranian crude exports.
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