Tag: brent crude price

The Indian key benchmark indices started the session on a positive note today (29 March 2022)aided by a 9 percent fall in Brent Crude prices overnight. The BSE Sensex rose 223 points to 57,817, while the NSE Nifty was at 17,285, higher by 63 points. Among the Sensex-30 shares, HDFC, Ultratech Cement, Asian Paints, Maruti, SBI, Bharti Airtel, and PowerGrid were the top gainers, up to 1.5 percent higher. SBI Life, HDFC Life, UPL, and Tata Motors were the additional Nifty winners. On the other hand, Dr. Reddy's, Tata Steel, ITC, ONGC, Coal India, and Hindalco, meanwhile, were the top losers on the bourses. In the broader markets, the BSE MidCap and SmallCap indices also opened in the positive territory, up to 0.55 percent higher. Read more

The Indian benchmark indices started to trade with deep cuts today (7th March 2022) as Brent Crude trading at $130 a barrel and global market sell-off.In morning trades, the BSE Sensex was down 1,400 points, breaching the 53K-mark to around 52,920, while the NSE Nifty50 cracked 450 points to 15,780. The losses were spread across the broader markets with the BSE MidCap and SmallCap indices slipping 2.3 percent each. On the Sensex, top laggards were ICIC Bank, Maruti, Bajaj Finance, L&T, and Asian Paints, down up to 5 percent. On the Nifty, Eicher Motors, Britannia, and Tata Motors were the additional losers. Read more

Brent Crude prices have crashed 15 percent from the peak of $77.80 a barrel level and are currently trading around $72 a barrel after recovering from the low of $67.42 hit earlier in the week. This drop in crude price has a positive impact on paint stocks. Hence, the stocks of Asian Paints, Berger Paints, and Pidilite Industries have scaled news highs in trade today(22nd July 2021). Even on a year-to-date (YTD) basis, their performance has been noteworthy with Pidilite Industries rallying 32 percent and Asian and Berger Paints up 15 percent each, data available with ACE Equity shows. The tech charts signals for some of these shares are: ASIAN PAINTS LTD Likely target: Rs 3,500 Upside potential: 11 As long as the support of the 50-days moving average (DMA) is held firmly, placed at Rs 2,958-mark, the upside sentiment is expected to surge. Read more

The Indian equity markets corrected yesterday(25th November 2020) after hitting a lifetime high earlier in the day. The benchmark Nifty50 index ended with losses of around 200 points, the biggest one-day fall in nearly a month. This sharp reversal was attributed to a rally in crude oil prices. On Wednesday, Brent crude price hit an eight-month high of $48 to a barrel as traders bet on a faster-than-expected recovery in energy demand and a likely production cut by members of the Organization of Petroleum Exporting Countries (Opec) and Russia later this month. Some analysts believe higher crude oil prices could significantly increase India’s energy import bill creating pressure on the current account balance, apart from raising input costs for companies in sectors ranging from metals and mining, chemicals, paints, personal care, cement, petrochemical, plastics, and agro-chemicals. Read more