Hindustan Unilever topped the buying list, rising 2 percent followed by Hindalco Industries, Infosys, Cipla, M&M, Punjab National Bank, Asian Paints and Power Grid Corporation with a percent gain.Oil prices fell to four-year lows today as it appeared unlikely producer club OPEC would decide to cut output in support of prices at a meeting this week, and as increasing Chinese and US stocks boosted available supplies.

The Gulf producers within the Organization of the Petroleum Exporting Countries (OPEC) – Saudi Arabia, Kuwait, Qatar and the United Arab Emirates – said on Wednesday that they will not propose an output cut during the offical meeting on Thursday, reducing the likelihood of joint action by OPEC to prop up prices that have sunk by a third since June.

Benchmark Brent futures dropped over USD 1 in Asian morning trading today to a low of USD 76.28 a barrel, their lowest level since September 2010, and US crude was also down over USD 1 to a session low of USD 72.61 a barrel, reports Reuters.

The sharemarket continued to consolidate on the expiry day of November derivative contracts. The Sensex rose 9.69 points to 28395.88 and the Nifty climbed 1.65 points to 8477.40. The broader markets outperformed benchmarks with the BSE Midcap and Smallcap indices gaining 0.4 percent and 0.55 percent, respectively. Advancing shares outnumbered declining ones by a ratio of 1176 to 732 on the Bombay Stock Exchange.

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