<p>Indian shares inched higher in choppy trade on Thursday and were set for their best month since August as oil prices fell, while Axis Bank rose after a deal to acquire Citigroup's local consumer banking businesses.</p>.<p>The NSE Nifty 50 index rose 0.16 per cent to 17,525.45, as of 0454 GMT, while the S&P BSE Sensex climbed 0.12 per cent to 58,755.85. Both indexes were near their seven-week highs and set to post monthly gains of more than 4 per cent.</p>.<p>The indexes were set to log gains of about 20 per cent for the financial year ending March 31. MSCI's broadest index of Asia-Pacific shares outside Japan fell 12 per cent during the same period.</p>.<p>"The odds are pretty high that the next financial year will be a good year for the market given that the economic recovery is proceeding nicely," said Saurabh Mukherjea, founder of Marcellus Investment Managers.</p>.<p>"Almost always, when you have economic recovery and rising interest rates, you tend to get very healthy stock market performance. I think that's the sort of 12 months we're heading for," Mukherjea said, adding that $100 crude prices were not a macro challenge for India.</p>.<p>Oil prices tumbled on Thursday as the United States weighed a massive reserves release to calm soaring crude prices.</p>.<p>India is the world's third-largest importer and consumer of oil, and a surge in crude prices tends to push the country's trade and current account deficit higher while also hurting the rupee and fuelling inflation.</p>.<p>Shares of Axis Bank rose as much as 1.7 per cent after the lender announced a $1.6 billion acquisition of Citi's local retail business to bulk up its credit card and retail presence.</p>.<p>IIFL Wealth Management jumped 7.6 per cent to a record after saying investment firm Bain Capital would buy a 24.98 per cent stake in the company.</p>.<p>Bajaj Finance rose as much as 2.7 per cent to a 10-week high and was on track for a fourth straight session of gains.</p>.<p>Meanwhile, Hindalco Industries tumbled for a second day, falling as much as 3.6 per cent to a two-week low. </p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>Indian shares inched higher in choppy trade on Thursday and were set for their best month since August as oil prices fell, while Axis Bank rose after a deal to acquire Citigroup's local consumer banking businesses.</p>.<p>The NSE Nifty 50 index rose 0.16 per cent to 17,525.45, as of 0454 GMT, while the S&P BSE Sensex climbed 0.12 per cent to 58,755.85. Both indexes were near their seven-week highs and set to post monthly gains of more than 4 per cent.</p>.<p>The indexes were set to log gains of about 20 per cent for the financial year ending March 31. MSCI's broadest index of Asia-Pacific shares outside Japan fell 12 per cent during the same period.</p>.<p>"The odds are pretty high that the next financial year will be a good year for the market given that the economic recovery is proceeding nicely," said Saurabh Mukherjea, founder of Marcellus Investment Managers.</p>.<p>"Almost always, when you have economic recovery and rising interest rates, you tend to get very healthy stock market performance. I think that's the sort of 12 months we're heading for," Mukherjea said, adding that $100 crude prices were not a macro challenge for India.</p>.<p>Oil prices tumbled on Thursday as the United States weighed a massive reserves release to calm soaring crude prices.</p>.<p>India is the world's third-largest importer and consumer of oil, and a surge in crude prices tends to push the country's trade and current account deficit higher while also hurting the rupee and fuelling inflation.</p>.<p>Shares of Axis Bank rose as much as 1.7 per cent after the lender announced a $1.6 billion acquisition of Citi's local retail business to bulk up its credit card and retail presence.</p>.<p>IIFL Wealth Management jumped 7.6 per cent to a record after saying investment firm Bain Capital would buy a 24.98 per cent stake in the company.</p>.<p>Bajaj Finance rose as much as 2.7 per cent to a 10-week high and was on track for a fourth straight session of gains.</p>.<p>Meanwhile, Hindalco Industries tumbled for a second day, falling as much as 3.6 per cent to a two-week low. </p>.<p><strong>Watch the latest DH Videos here:</strong></p>