Indian shares rebound on slide in oil prices

BENGALURU: Indian shares swung to gains in the final hour on Thursday, on slide in oil prices due to demand concerns in China, while volatility was high in domestic market with the expiration of the December derivatives series.

The Nifty 50 index closed 0.38% higher at 18,191, and the S&P BSE Sensex rose 0.37% to 61,133.88. The benchmarks had fallen over 0.7% during the session.

Most of the major sectoral indexes reversed losses, with oil and gas stocks and metals rising over 1%. Sectoral heavyweight financials added over 0.5%.

Thirty-three of the Nifty 50 constituents advanced, with Bharti Airtel, State Bank of India, Eicher Motors, Tata Steel and Axis Bank rising over 1.5%.