Indian shares posted strong gains on Thursday, as oil extended losses on demand concerns, after having plunged to hit seven-month lows in the U.S. trading session overnight.
Indian bond yields dropped as oil’s fall below $90 a barrel helped ease concerns surrounding inflation and additional interest-rate hikes.
Underlying sentiment was also underpinned after Wall Street clawed back from a three-week long sell-off overnight.
The benchmark S&P/BSE Sensex jumped 659.31 points, or 1.12 percent, to close at 59,688.22 – snapping a two-day losing streak.
