Oil prices are dropping in India and in the world as the country struggles to cope with the effects of drought.
The drop is being seen as a signal that India’s economy could be a target for investors.
The Indian stock market closed at 4,094 rupees ($65.36) an ounce, its lowest since March, but remained above a three-month low.
The Sensex rose 2.1% to 2,836.70.
The benchmark benchmark BSE Sensex closed up 0.5% at 9,719.25.
India is facing an ongoing drought, with officials saying more than 5.5 million people are suffering from acute droughts.
The price drop is likely to affect the country’s growth and job prospects.
Oil prices have fallen in the past.
India’s government has been cutting taxes and spending, but the impact on the economy remains unclear.