Oil crashes, Nikkei jumps 5%: How US-Iran ceasefire flipped global markets
Stock markets across Asia posted strong gains while crude prices slipped sharply after a temporary truce between the US and Iran signalled easing tensions in the Middle East.
Stock markets across Asia posted strong gains while crude prices slipped sharply after a temporary truce between the US and Iran signalled easing tensions in the Middle East.
Sharp losses across Asia come as shipping disruptions in a key oil route intensify global risk concerns, with experts warning of deeper financial stress ahead.
Indian equity indices were trading in the red on Wednesday iny market trends following mixed cues from Asian markets.
Global food protectionism is likely to see a new chapter being written this year as India, which in recent years had emerged as a significant sugar exporter, braces for a drop in production. Already, the government has capped exports for the ongoing production cycle at 6.1 million tonnes, and global sugar prices have seen a surge in recent days.
The virus has claimed more than 2,200 lives and has infected over 75,000 people, mostly in China, and spread panic around the world.
The benchmark Sensex fell up to 450 points. The Nifty50 of the National Stock Exchange (NSE) opened at 11,605.80 after closing at 11,712.25 on Friday.
The BSE benchmark Sensex Tuesday rallied over 300 points tracking positive cues from other Asian markets amid heavy buying by domestic institutional investors.
In addition, the domestic currency traded lower by 59 paise at 73.03 to a US dollar, from its Friday close of 72.44.
The benchmark Sensex on Monday zoomed over 209 points to scale new peak of 34,801.74 points on the back of…
Crude oil prices spurted almost 1 per cent to Rs 3,757 per barrel in futures market on Tuesday as speculators created fresh…
