New Delhi, April 6 (IANS) Elevated global crude oil prices above $90 per barrel could begin to significantly weigh on earnings of Nifty companies, a report has said.According to Bernstein analysts’ estimates, for every $10 per barrel increase beyond $90, Nifty earnings may decline by 2-3 per cent, with the impact worsening sharply at higher price levels. While crude has a limited direct linkage to the index, its broader macro impact, including inflation, currency depreciation and policy response…
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Seoul, March 31 (IANS) South Korean stocks traded lower late on Tuesday morning, led by heavy foreign sell-offs, as an escalating conflict in the Middle East heightened concerns about global oil supplies and broader economic impacts.The benchmark Korea Composite Stock Price Index (KOSPI) fell 89.14 points, or 1.69 percent, to 5,188.16 as of 11:20 a.m.The index opened about 3 percent lower and had been under downward pressure, though some of the earlier losses were erased, reports Yonhap news age…
New Delhi, March 30 (IANS) The Indian rupee on Monday crossed the 95 per dollar mark for the first time, hitting 95.2 against the US dollar, down 0.3 per cent.It ended at a record closing low of 94.83 per dollar, compared to Friday’s close of 94.81.The currency has depreciated by 4.4 per cent against the US dollar in the March quarter. The rupee, which had opened on a strong note after the Reserve Bank of India (RBI) reduced the net open position limit that banks can keep overnight to $100 milli…
New Delhi, March 30 (IANS) Global oil prices surged sharply on Monday amid escalating tensions in West Asia, following the entry of Yemen’s Iran-backed Houthi group into the conflict.International benchmark Brent crude futures rose as much as 3.66 per cent to an intra-day high of $116.70 per barrel, nearing a fresh 52-week high. US benchmark West Texas Intermediate (WTI) also climbed over 3 per cent to cross $103 per barrel.The latest spike in crude prices follows weekend missile launches by H…
Mumbai, March 26 (IANS) Global oil prices jumped to cross $100 per barrel on Thursday after Iran said it was not engaged in direct negotiations with the US to end the war.Brent crude futures rose 1.21 per cent to $103.46 per barrel while US West Texas Intermediate (WTI) crude jumped 1.35 per cent to $91.54 per barrel, as Middle East tensions continued to escalate.According to Iranian Foreign Minister Abbas Araghchi, exchanges between Tehran and Washington through intermediaries should not be int…
Washington, March 25 (IANS) Oil markets swung sharply as investors weighed fears of a prolonged Middle East conflict against signs of possible diplomatic progress, with prices briefly topping $100 before retreating.Wall Street struggled for direction. Crude rose, bonds sold off, and stocks fell as conflicting signals emerged from Washington and the region, according to reporting by The Wall Street Journal.Front-month Brent crude climbed 4.6 per cent to $104.49 a barrel, while West Texas Intermed…
New Delhi, March 20 (IANS) Oil marketing companies on Friday increased the price of premium petrol by around Rs 2 per litre from March 20, amid rising global crude prices triggered by escalating tensions in West Asia.State-run oil marketing companies, including Hindustan Petroleum Corporation Limited and Indian Oil Corporation Limited, have raised the prices of their premium petrol variants by about Rs 2.09 to Rs 2.35 per litre.With this revision, the price of branded fuels such as Power petrol …
New Delhi, March 19 (IANS) Oil prices jumped more than 4 per cent on Thursday over attacks on key energy infrastructure in West Asia.The April contract of Brent crude on the Intercontinental Exchange was trading at $111.78 per barrel, up 4.10 per cent from its previous close. Meanwhile, the April contract of West Texas Intermediate (WTI) on NYMEX rose 3.37 per cent to $99.57 per barrel.Oil surged after Israel’s strike on Iran’s South Pars gas field — the world’s largest. Iran retaliated,…
New Delhi, March 18 (IANS) Global oil prices traded in the negative zone on Wednesday, slipping over 3 per cent after a sharp surge in the previous session, as escalating geopolitical tensions in West Asia kept markets volatile.Brent crude futures were trading 2.50 per cent lower, hitting an intra-day low of $100.85 per barrel by 9:45 am, while the US benchmark West Texas Intermediate (WTI) crude fell 3.40 per cent to an intra-day low of $92.83.So far this week, WTI futures have declined as much…
New Delhi, March 13 (IANS) Global equity markets have not fully priced in the economic fallout of the ongoing war in the Middle East, Christopher Wood, global head of equity strategy at Jefferies, said in his weekly note to investors.Wood said markets have shown surprising resilience considering that it has been nearly two weeks since the U.S.‑Israel strikes on Iran.“The explanation for the lack of a more dramatic sell‑off in stocks is markets’ continuing assumption that Donald Trump wil…