3 weeks ago

Indian equity markets open flat as crude oil prices surge

Indian equity markets open flat as crude oil prices surge
Equity markets open flat amid gains in crude oil prices · thehansindia.com

A stock market is a place where people buy and sell tiny pieces of companies.

On Tuesday, India's stock markets started the day almost completely flat, meaning very little changed.

One reason was that the price of crude oil went up.

When oil gets more expensive, it can cost companies more to run their businesses.

Some groups of companies, like those selling software and household goods, saw small gains.

Banking companies, on the other hand, saw their shares fall a little.

Experts said strong company earnings and a steady rupee are helping keep the market calm.

In Asia, Japan's and South Korea's markets rose, while Hong Kong's fell slightly.

Overall, it was a quiet start with mixed feelings among investors.

Key facts

Sensex opening
78,509.77 (down 32.67 points, or 0.04%)
Nifty opening
24,575.10 (down 8.70 points, or 0.04%)
Brent crude
$88.08 a barrel (up 0.41%)
US WTI crude
$82.52 a barrel (up 0.47%)
Top sector gainer
Nifty MidSmall IT & Telecom (+0.73%)
Top sector laggard
Nifty Private Bank (-0.64%)
Nifty support zone
24,400-24,450
Nifty resistance zone
24,750-24,800

Quotes

Market experts

Financial market analysts

“Rising Brent crude price continues to be an irritant for the market even as other fundamentals exhibit strength”
thehansindia.com

Sources

Related news