The Iran-Israel-US war has entered its 10th day and the Strait of Hormuz, a critical trade route, remains shut for the sixth consecutive day. This has resulted in a surge in oil prices and a sell-off across global markets. As…
Iranian drone strikes on March 9 targeted Bahrain’s Sitra, damaging vehicles and buildings. Bahrain’s state oil company declared force majeure on shipments.
The Nifty PSU Bank Index is currently trading with losses of over 6% in today’s trading session, with every constituent of the index trading with losses. Stocks are currently trading with losses between 4% to 7% in today’s trade.
A jump in crude prices usually rattles sentiment in oil-importing economies. But the Nifty’s behaviour during the last oil shock may surprise investors.
Indian equities saw a sharp sell-off on March 9, pushing Nifty 50 and BSE Sensex into correction. Experts suggest staggered buying, hedging, and gold’s role during uncertainty.
Since January 5, only 13 Nifty stocks have delivered positive returns, while 37 stocks have declined.
Gold and silver prices fell in India on March 9, tracking global market weakness. Gold futures on MCX dropped 0.83%, while silver slipped 1%, influenced by rising crude oil prices and a stronger US dollar.
Around 109.9 million of Meesho’s shares, or 2% of its outstanding equity, has become eligible for trading on Monday, as per Nuvama Alternative and Quantitative Research.
Goldman Sachs analysts predict rising oil prices will benefit CNOOC and PetroChina amid Middle East tensions. Brent crude soared 28% last week. Shares hit 52-week highs on March 3.
The reassessment comes as crude oil prices have climbed past $100 per barrel and investors grow increasingly concerned that the conflict in the Middle East could drag on, potentially pushing energy costs even higher.