13 hrs ago
Sensex, Nifty Rise As Investors Watch US-Iran De-Escalation
The Sensex and Nifty are important measures of how stocks are performing.
They rose on September 23.
Investors were watching for signs that tensions between the United States and Iran might ease.
Lower tensions could help bring oil prices down.
Oil prices have already fallen more than 8% in 10 days.
The rupee also recovered, which may have encouraged investors.
One analyst said stocks look more reasonably priced than before.
He also said banking companies could help lead a recovery.
The Sensex and Nifty rose as investors monitored signs of easing tensions between the United States and Iran.
Global crude oil prices have fallen more than 8% over the past 10 days, according to G. Chokkalingam.
Chokkalingam said oil prices could decline further if negotiations between the United States and Iran continue.
A recovery in the rupee and a Sensex trailing price-to-earnings ratio below 20 may improve market sentiment.
Banking stocks could lead a market recovery, supported by strong deposit and credit growth.
- Who
- Investors and G. Chokkalingam, Head of Research at Equinomics Research.
- What
- The Sensex and Nifty rose as investors considered falling oil prices, a recovering rupee, and possible de-escalation in United States-Iran tensions.
- Where
- The domestic stock market.
- When
- September 23; the article does not specify the year.
- Why
- Investors responded to lower crude oil prices, a recovering rupee, appealing market valuations, and signs of possible negotiations between the United States and Iran.
Key facts
- Market movement
- Sensex and Nifty rose.
- Oil-price change
- Global crude oil prices fell more than 8% over the previous 10 days.
- Geopolitical factor
- Investors watched for possible de-escalation in United States-Iran tensions.
- Currency factor
- The rupee recovered the previous day.
- Valuation
- The Sensex trailing price-to-earnings ratio fell below 20.
- Potential market leader
- Banking stocks could lead a recovery.
- Banking indicators
- Deposit and credit growth rates were described as being at record-high levels.
Quotes
G. Chokkalingam
Head of Research at Equinomics Research
“They may fall further as there are some signs of negotiations taking place between US and Iran.”
timesnownews.com
Sources
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