Asian shares and US futures decline, while oil prices press higher
Oil climbed on Middle East tensions as the yen surged, with traders awaiting U.S. producer and consumer inflation reports later this week.
- On Tuesday, the BSE Sensex and NSE Nifty opened lower, with the Sensex dropping 162.53 points, or 0.21 per cent, to 75,970.28 amid Middle East tensions.
- Escalating US-Iran hostilities and uncertainty surrounding the Strait of Hormuz have driven Brent crude 0.54 per cent higher to USD 97.52 per barrel, weighing on investor sentiment.
- Rajesh Palviya, Head of Research at Axis Direct, said that "rising crude prices and renewed US-Iran hostilities kept risk appetite subdued," reflecting broader market caution.
- Despite the broader decline, market breadth remained positive with 1,352 stocks advancing against 1,050 declining on the NSE, led by Eternal, BEL, Tata Steel, and Bajaj Finserv gaining 0.84 per cent.
- Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, noted that large-cap weakness stems from SIP inflows favoring mid-and small-caps, with a rally likely by month-end following NSE and Jio IPOs.
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93 Articles
Stock markets tumble in early trade amid escalating tensions in West Asia, higher oil prices - The Tribune
Market benchmark indices Sensex and Nifty tumbled in early trade on Wednesday as escalating tensions in West Asia pushed crude oil to near USD 100-per-barrel mark.
Stock Markets Today: Sensex, Nifty Tumble as Crude Nears $100/barrel
Indian stock markets, including the Sensex and Nifty, experienced a significant tumble in early trade, driven by escalating tensions in West Asia that pushed crude oil prices close to the USD 100-per-barrel mark, alongside selling in IT stocks and fresh foreign fund outflows.
Sensex, Nifty Open Lower Again as Brent Crude Retouches USD 100 Amid West Asia Tensions
Get latest articles and stories on Business at LatestLY. Indian markets continue their red streak at the opening bell as Brent crude reaches near USD 100 amid rising geopolitical tensions in West Asia. Business News | Sensex, Nifty Open Lower Again as Brent Crude Retouches USD 100 Amid West Asia Tensions .
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