2 days ago

Sensex, Nifty Rise as Fed Decision and Oil Risks Loom

India’s main stock market indexes, the Sensex and Nifty, went up.

Investors are waiting to see what the United States Federal Reserve will decide about interest rates.

Oil prices stayed mostly unchanged even though the United States reported more crude oil in storage than expected.

Oil supplies were also a concern after Saudi Arabia stopped some shipments from its Yanbu terminal.

The stoppage followed an attack that damaged an important pipeline.

Higher oil prices can make many things more expensive in India.

An expert said weak rainfall and many new stock offerings are also important risks.

India’s oil basket cost more than $100 per barrel in September, and bond yields were rising.

Key facts

Indian market move: Sensex and Nifty rose.
Key policy focus: Markets were awaiting the United States Federal Reserve’s policy decision.
Oil prices: Oil prices remained steady after an unexpected rise in United States crude inventories.
Saudi supply disruption: Saudi Arabia suspended oil loadings at its Yanbu terminal after an attack damaged its East-West pipeline.
India crude basket: India’s crude oil basket crossed $100 per barrel in September.
Previous monthly average: India’s crude oil basket averaged $90.19 per barrel in August.
Additional risks: An expert identified elevated oil prices, inadequate rainfall, and the continued boom in initial public offerings as factors to watch.

timesnownews.com · 2 days ago