India's Sensex Soars on Lower Oil Prices

The Indian stock market ended on a high note Thursday as lower oil prices and gains in state-owned banks and chemical companies boosted investor sentiment.

The Sensex rose by 374 points, or 0.48 percent, to close at 78,954.76. The Nifty 50 edged up 11.35 points, or 0.05 percent, to end at 24,636.

The gains were led by Reliance Industries, State Bank of India, and Bharat Electronics, which provided support for the benchmark indices. However, trading in the broader market was mixed, with the Nifty MidCap index falling 0.44 percent as investors booked profits in some mid-sized companies.

Analysts pointed out that lower crude oil prices improved sentiment because India imports most of its energy needs. A decline in oil prices can reduce the country's import bill and ease inflationary pressure.