In the past one month, several banks have hiked up interest rates for fixed deposits of less than Rs 1 crore, making them an attractive savings option.

While the Sensex gained 118 points or 0.34% to 35,260, the Nifty rose 0.38% or 40 points to 10,616 level.

Brent crude, used to price international oils, dropped 30 percent to $65.17 a barrel. Oil has now fallen for 12 straight days, driven by worries over rising oil production around the world and weakening demand from developing countries, with expectations for increased supply from the US and OPEC.

Many management graduates from leading business schools begin their careers burdened by debt, owing to the high fees they had to pay. What is the way out?

Tata Motors (4.84%), Hero MotoCorp (3.82%) and PowerGrid 2.87% were the top Sensex losers. Of 30 Sensex stocks, 25 closed lower.

A weak trend in gold markets as the dollar firmed after the US Federal Reserve kept interest rates steady with another hike expected next month, diminished the appeal of gold as safe haven.

The domestic passenger vehicle industry returned to the growth path in October after three consecutive months of decline in sales but still endured a frustrating festive season this year registering a muted 1.55 percent increase in sales last month.

If the data meets forecasts, October will mark the third straight month retail inflation has been below the Reserve Bank of India's medium-term target of 4%, supporting the central bank's surprise decision to hold interest rates at its meeting last month.

RBI has paid over Rs 50,000 crore every year with the exception of demonetisation year, when its income fell and expenditures rose because of printing of notes etc.