India shares end higher on falling oil price

MUMBAI, India shares snapped a three-session losing run to close higher Tuesday, tracking gains in Asian markets and as a fall in crude prices boosted market sentiment among investors wary of high inflation.
The Bombay Stock Exchange Sensitive Index rose 149.25 points, or 0.8%, to close at 17,988.30.
Trading volume on the BSE fell to 29.43 billion rupees (654 million U.S. dollars) from 30.44 billion rupees on Monday. Winners outnumbered losers from 1555 to 1294, while 134 stocks were unchanged.
At the National Stock Exchange, 50 shares of S & P CNX Nifty gained 49.10 points, or 0.9%, to close at 5413.85.
In Asia, Japan's Nikkei rose 4.4%, the Hang Seng in Hong Kong gained 0.8% and China's Shanghai Composite closed 0.3% higher.
"The softening of Brent crude and the rupee gains have helped the Sensex hold at higher levels, but the market remains very large wheel," said DD Sharma, head of equity research of Anand Rathi Securities.
ICE Brent crude futures for April delivery fell below $ 115 a barrel, and last traded at $ 114.70, down 21 cents.
Analysts expect oil prices to soften further in April once you have clarity on the impact of the turmoil in the Middle East and North Africa, but expect the India market to trade in a narrow range until then.
Among the 30 Sensex components, 25 closed higher on Tuesday.
Reliance Industries, which has a weight of 12.5% ​​in the Sensex, rose 1.1% to 999.5 rupees after a media report that the company is seeking an increase in the price of gas pumps block D6 in the Krishna Godavari basin, as compared with east coast of India.
However, it is unlikely that the government accept a price increase as a ministerial panel has priced at $ 4.20 per million British thermal unit until 2014, said Jagdish Meghnani, vice president of equity research of alchemy and Stock Brokers Exchange.
Maruti Suzuki, the Indian team's decision-car Suzuki Motor led gains in auto parts after the company said it expects no impact of the crisis in Japan and expects to sell about 110,000 vehicles in March. The action, which had closed in a month low Monday, jumped 3.6% to 1,171.85 rupees. Mahindra & Mahindra gained 1.7% to 652.4 RUPES, while Tata Motors closed 1.2% higher than 1136 rupees.
Some software companies rose on bargain buying after paying 4% -5% in the last week. Infosys Technologies, which has the second highest weight in the Sensex, rose 0.7% to 2,943.4 rupees, while Wipro closed up 0.1% at 434.05 rupees.
Among other winners, State Bank of India, the country's largest bank by assets, rose 1.5% to 2,620.95 rupees, while the telecom company Bharti Airtel rose 2.7% to 325.85 rupees.
Among the losers, Jindal Steel & Power fell 0.3% to 660.40 rupees, while ICICI Bank ended down 0.3% at 1,003.35 rupees.

(Source: http://online.wsj.com/article/SB10001424052748704461304576216202379926920.html?mod=googlenews_wsj)