MUMBAI: Concerns about rising oil prices after a raid on Saudi Arabia’s oil boom over the weekend, weak economic growth from China, continued to sell in foreign currency and weakening exchange rate to pull 642 percent, or 1.8%, Tuesday to near 36,481 . It was the “twin” of the HDFC – HDFC and HDFC Bank – that led to the idea, following the BSE.
The day’s sale started on a note but the list was lost in the meeting with the smallest days at 36,419, up nearly 700 points from the original opening. Of the 30 points of view, only three – HUL, Paints Asia and Infosys – are the most closed; length 27 ended red.
Customers lose 2.4L cr, bank & auto hit
HDFC and HDFC Bank together contributed approximately a quarter of the fall of 642. Other key players in the deal were ICICI Bank, Axis Bank and Reliance Industry.
According to Shrikant S Chouhan, senior VP (equity security research), Kotak Protection, when the rifle fell to 71.95 against the dollar, Brent’s volatility prices moved to $ 69 per bucket and the yield on the government’s 10-year average was at 6.72%. “All of these factors are slowing down economically and its complexity may be temporary,” Chouhan said.
However, at the end of the night, after reports emerged that Saudi Arabia had the courage to refine its oil supply in eight weeks, prices had dropped. That could also change the perception of Dalal Street on Wednesday, traders said.
Banking and auto stocks were among the top sellers. According to players in the market, the market for crude oil prices is likely to raise gasoline and diesel prices, leading to higher prices. Higher prices often force RBI to make a profit. The day’s change also left the poor with Rs 2.4 lakh crore with the BSE’s current capital at Rs 139 lakh crore.
Sensex drops 642 points as oil fears spook market
