Crude Oil: Crude Oil prices stood strong on Tuesday, driven by ongoing supply cuts led by OPEC and by U.S sanctions on Iran and Venezuela, but it is preoccupied that an indication of a sharp economic slow-down could shortly drag Read more
Oil prices fell to 7-month lows in the global market amid latest foreign fund inflows. The world’s top-three producers offset supply worries from the start of U.S sanctions coming week against Iran’s petroleum exports.
Meantime, the RBI has said that it will infuse Rs 40,000 crore into the system in November by buying govt bonds by way of open market operations for maintaining liquidity in the market.
Significant flaw in the dollar index is needed to rally gold. US dollar index gained on Thursday to approach near its 2-month high and trades around 96.40, up 0.25% on the day. The Indian rupee is getting stronger as it seen a substantial fall in crude oil prices.
For the week, the Nifty declined 1.4 percent, while Bank Nifty index dropped 1.2%. Sectorally, Pharma index was up by 1.3 percent, while FMCG index gained 2.4 percent.
Market start negative move on Friday morning as weak global cues. The BSE Sensex traded lover over 365 points at 34,414-mark, while the NSE Nifty is down over 112 points to 10,341.