6 bolt oil expeller price

Indian equities extend gains as oil prices fall; February inflation is under scrutiny

1 minute, 48 seconds Read

Indian equities climbed on Monday, extending gains from the previous week, as oil prices fell on prospects of progress in Russia-Ukraine peace negotiations, with investors keeping an eye on the country’s retail inflation data, which is coming later in the day.

The blue-chip NSE Nifty 50 index (NIFTY) was up 0.32 percent at 16,684 as of 0511 GMT, while the benchmark S&P BSE Sensex (.BSESN) was up 0.52 percent at 55,838.88.

Most Asian stock markets rose, while oil prices fell further after Russia and Ukraine delivered their most positive appraisal yet of the chances for talks.

Investors are also paying attention to February retail inflation, which is expected to be modestly lower, according to a Reuters poll, with surveyed analysts also warning about the impact of rising oil costs.

“The single most significant element to monitor is crude, which has been softer,” said Pankaj Pandey, head of retail research at ICICI Securities in Mumbai.

India is the world’s third largest importer and consumer of oil, making it vulnerable to significant inflation if oil prices rise.

“The drop in crude from its recent high… suggests that the predicted high inflation may not materialise,” said V K Vijayakumar, chief investment strategist at Geojit Financial Services.

The Nifty Bank Index (BANKNIFTY) rose 1%, aided by HDFC Bank (HDFCBANK), which rose 2.3 percent after the central bank announced on Saturday that it has removed limitations on some of its digital activities.

Individual equities fell 10.7 percent, led by digital payments provider Paytm (PAYTM), after the central bank stopped Paytm Payments Bank from accepting new customers and requested a thorough assessment of its IT systems.

Jubilant FoodWorks (JUBLFOOD), Domino’s Pizza’s (DPZ) Indian franchise partner, plummeted as high as 14.7 percent. On Friday, the company’s CEO quit.

You can also read:

World’s Biggest Business Fantasy Game

Similar Posts