Inventory Market Replace: Sensex Slips 300 pts; Nifty Under 16,600 Amid Step Rise in Oil Costs

The Sensex and Nifty were in the red on Tuesday morning amid a steep rise in oil prices and weak Asian markets

The Sensex and Nifty had been within the purple on Tuesday morning amid a steep rise in oil costs and weak Asian markets

Inventory Market Updates: The Sensex and Nifty had been within the purple on Tuesday morning amid a steep rise in oil costs and weak Asian markets

  • Final Up to date:Might 31, 2022, 09:17 IST
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The Sensex and Nifty had been within the purple on Tuesday morning amid a steep rise in oil costs and weak Asian markets. Oil costs continued to rise in early Asian commerce on Tuesday after the European Union mentioned it had agreed to chop 90 per cent of oil imports from Russia by the tip of this 12 months. Brent Crude futures had been above $122 a barrel this morning.

World Cues

The inventory market within the US was closed on Monday on account of Memorial Day. Likewise, there was no buying and selling in Treasuries in addition to the US bond market. Nonetheless, the inventory futures traded, albeit solely until 1:00 pm ET.

Tokyo shares opened decrease on Tuesday after sturdy rallies within the earlier session and with buyers eyeing Chinese language financial indicators due later within the day. The benchmark Nikkei 225 index was down 0.25 per cent, or 69.75 factors, at 27,299.68 in early commerce, whereas the broader Topix index slipped 0.31 per cent, or 5.93 factors, to 1,916.51.

Hong Kong shares opened barely decrease Tuesday morning as merchants took a breather after two days of heavy shopping for that lifted the market round 5 p.c. The Hold Seng Index dipped 0.08 per cent, or 17.52 factors, to 21,106.41. The Shanghai Composite Index was barely moved, including 0.88 factors to three,149.94, whereas the Shenzhen Composite Index on China’s second change was additionally flat, inching up 0.81 factors to 1,976.70.

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