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Global crude oil prices have fallen by near 30 per cent to USD 65 per barrel from over USD 86 in early October.
While Sensex rose 115.89 points by 0.33 per cent, NSE Nifty was trading higher by 30.25 points by 0.29 per cent.
Pharma and information technology shares tumbled due to stronger rupee which rose 50 paise to 72.17 against the US dollar (intra-session) in late afternoon trade.
While Nifty is trading at 10,623.65, Sensex was trading at 35,316.07.
Easing global crude oil prices, which slipped below the USD 70 a barrel, and rupee recovering lost ground also helped build positive sentiments.
The 30-share index fell over 140 points in opening trade but soon recovered the lost ground to quote higher by 46.12 points or 0.13 per cent at 34,859.11.
The government would release the Consumer Price Index (CPI) for October and the industrial production data for September later in the day.
Though sectors like IT, healthcare and capital goods saw good sellout, oil and gas stocks saw a decline in buying.
The 30-share Sensex was quoting 155.14 points, or 0.44 per cent higher at 35,313.69 points. The gauge had lost over 79 points on Friday.
In a survey of 50 observation homes across the country, the NCPCR said it was found that considerable percentage of children are either school drop outs or have never gone to a school.
Investors are awaiting CPI data Monday, which is expected to come down slightly due to a recent cut in fuel taxes and fall in oil prices.
The broader Nifty, which fell as much as 0.5 per cent in early trade, was up 0.16 per cent at 10,615.8 as of 0545 GMT. The benchmark Sensex was 0.12 per cent higher at 35,280.59.
The benchmark Sensex has gained 2,407.56 points, or 7 per cent, in the Hindu Samvat year 2074, while the broader NSE Nifty rose by 319.15 points, or over 3 per cent.
The Sensex fell below the 35,000-level to touch a low of 34,811.60 due to heavy selling pressure in view of foreign capital outflows and weak global cues.
Total income of the bank rose to Rs 15,959.37 crore during the second quarter of 2018-19 as against Rs 13,820.62 crore in the same period of the preceding fiscal.