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Local stock markets are under immense pressure over last few days. The benchmark NIFTY50 index slumped to 11-month low under 23000 mark today, eventually bottoming out and ending on a positive note. However, the index has lost more than 10% from its all time high and recent wave of losses means that the returns delivered by the index on one year basis are paltry at 3.30%. The performance is bleak if one considers the last one-month period when the index has lost around 9%. A massive spike in global crude oil prices weighed on the local equity markets in March 2026. Global equities came under severe stress as a continued rise in crude prices amid an escalating conflict in the Middle East fueled inflation worries. Brent crude oil spiked near $120 per barrel mark, hitting around four-year high. Such a sudden and wild spurt in the global energy prices can push up local inflationary trends. India’ consumer price inflation edged up to 3.21% in Feb-26 compared to 2.74% in Jan-...
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