Sensex, Nifty post biggest gains in three weeks amid crude oil price slump

Stocks tied to crude oil prices such as airlines, paints, chemicals, refiners and lubricants were in focus as Brent plunged 6.1 per cent on Friday

Indian stocks gained as investors cheered the continued decline in the price of crude oil, the nation’s biggest import, while brushing aside uncertainty around the outcome of elections.

Most global markets also advanced as investors looked more optimistically on the outlook for trade and interest rates in the wake of another miserable week in markets.

The benchmark S&P BSE Sensex climbed 1.1 per cent to 35,354, its biggest percentage advance in more than three weeks. Nifty50 ended at 10,628.6, gaining 102 points, or 0.97 per cent — the most since November 2.

The market rose in the