Market regains after recent slide, the Sensex closed above the 33,000 level

Stock Market registered strong gains on renewed buying after enduring losses of three sessions. Recent decline in crude oil prices globally also lifted investor passion. 

The BSE Sensex closed higher by 346.38 points to 33,106.82, whilst the NSE Nifty gained 96.80 points to close at 10,214.80. IT stocks advanced. Index heavyweight Reliance Industries gained. 

IT major Infosys Ltd along with SBI, Reliance Industries and NTPC were the top gainers heaping gains respectively by 3.79%, 2.71%, 2.56% and 2.27%. On down side, shares of Adani Ports fell by 2.27%, Coal India by 0.94% and Hero MotoCorp 0.72%. 

Oil refinery company’s stocks gained as lower crude oil prices slashed input costs. The Nifty energy index gained 2 percent with Reliance Industries rising 2 percent and Indian Oil Corporation and Oil and Natural Gas Corporation Limited advancing 1% each.

Overseas, European stocks rose higher as investors keep an eye on earnings and key data releases. Asian stocks were mixed. The International Energy Agency cut its outlook for oil demand growth by 100,000 bpd for 2017 and 2018.

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