Share benchmarks ended the trading session lower, snapping their 3-day winning streak. The BSE Sensex ended the day lower by 382.90 points, while the NSE Nifty closed the day lower by 131.70 points at 10,453.05. The domestic currency was little changed on Wednesday at 73.47 against US dollar.
Crude oil has come down sharply. Brent’s price slipped below $ 82, approximately below 6% from 4 year’s upper level. In the US the crude oil reserve increased nearly 97 Lakh barrel. While global economic growth affected due to expensive crude oil. in this situation, the demand for Crude Oil may decrease. It is expected that the production of crude oil will increase in the US which may also lead to rising crude oil price.
Crude oil futures stayed supported in last session as prospects of possible fall in supply after implementation of sanctions on Iran from early November weighted down on investors’ sentiments
Edible oil price increased due to weak INR, Soya Oil gained 0.5%. Chana also trading higher, while Mentha oil jumped 2.5%. US dollar crossed 72 level due to which Gold become costly. Silver price also raised.
Due to higher Crude Oil prices, US$ strengthen and Rupee has seen under pressure. While in last days the US-China Trade war and, Currency problem in Turkey & Argentina has weakened the Indian Rupee. INR slipped 9.5% in last 6 months, While we have seen nearly 12% weakness in Rupee this year. Today trading session witnesses big fall in the market. SENSEX closed below 155 points, and Nifty closed below 11550. Watch Stock Calls For Tomorrow.. Click on image below.