Equity indices in India, the world's third-biggest importer of oil, slumped on Monday as oil prices surged after attacks on key oil producer Saudi Arabia's crude facilities over the weekend.
The broader NSE index fell as much as 0.79% to 10,988.85, while the benchmark BSE index slipped 0.73% to 37,112.79.
Benchmark Brent crude futures rose by as much as 19.5% to $71.95 per barrel, the biggest intra-day jump since Jan. 14, 1991. The front-month contract was at $66.20 per barrel, up $5.98, or 9.9%, from their previous close.
Indian oil marketing companies Indian Oil Corporation Ltd, Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp Ltd slid between 5% and 7%.
Heavyweight oil-to-retail conglomerate Reliance Industries Ltd was among the top drags, falling as much as 3.22% to its lowest in nearly two weeks.
14 Oct 2019 06:00 PM
India’s retail inflation rate rose to 3.99% in September, driven by higher food prices, the government said on Monday, close to the central bank’s 4% medium-term inflation target, after an interval of 13 months.
14 Oct 2019 05:22 PM
The Indian rupee closed at over three-week low against the dollar, following a report that said China wanted further trade talks before
14 Oct 2019 04:28 PM
Indian equity indices ended higher on Monday, buoyed by auto and real estate stocks, as investors awaited headline inflation data due later in the evening.
14 Oct 2019 03:28 PM
The euro is trading little changed around $1.1030. Markets are digesting the U.S.-Sino handshake deal that prevents new US tariffs that were planned for Tuesday.
14 Oct 2019 02:24 PM
The dollar held near a 2-1/2-month high against the yen on Monday on signs of progress in U.S.-China trade talks, while sterling's rally ran out of steam after touching a 3-month peak on hopes for an orderly British exit from the European Union.
14 Oct 2019 02:13 PM
The British pound fell against the U.S. dollar on Monday in Asia despite renewed Brexit hopes. The greenback inched up amid positive trade progress with