On Tuesday, Indian shares fell, led by heavyweight banking and consumer stocks, with a continued rise in crude oil futures dampening sentiment even further.
The blue-chip NSE Nifty 50 index (NIFTY) was down 0.34 percent at 17,061.15 by 0410 GMT, while the benchmark S&P BSE Sensex (.BSESN) was down 0.38 percent at 57,076.89.
Both indexes gained about 4% last week; they were aided by falling oil prices, signs of progress in Russia-Ukraine peace talks, and further relaxation of local COVID-19 restrictions amid an expanded vaccination drive.
However, a lack of tangible progress in the peace talks and a possible European Union energy embargo against Russia have sent oil prices soaring once more. Two dealers told Reuters late Monday that state-controlled fuel retailers in India, the world’s third-largest consumer and importer of oil, will raise petrol and diesel pump prices for the first time since November.
Bharat Petroleum Corporation (BPCL); Hindustan Petroleum Corporation (HINDPETRO); and Indian Oil Corporation (IOC) all increased by 1.6 percent to -3 percent.
On Monday, India’s central bank governor said that inflation expects to moderate despite “unimaginably uncertain” global crude oil prices; he added that the country is not at risk of stagflation.
The CNXFMCG (Nifty FMCG Index) fell 1.68 percent. Hindustan Unilever (HINDUNILVR) lost 3.4 percent and was the Nifty 50’s biggest percentage loser.
Shares in Asia-Pacific mainly were higher on Tuesday; Hong Kong-listed Alibaba shares surged after the company announced an increase in its share repurchase program from $15 billion to $25 billion.
By the end of trading on Tuesday in Hong Kong, shares of Alibaba listed in the city were up 11.2 percent. The broader Hang Seng index in Hong Kong led gains among the region’s major markets, rising 3.15 percent to 21,889.28.
Meanwhile, China Eastern Airlines shares fell 2.55 percent in Hong Kong after the carrier’s Boeing 737 passenger jet crashed in southern China on Monday. The Nikkei 225 index in Japan rose 1.48 percent to 27,224.11, while the Topix index rose 1.28 percent to 1,933.74.
Mainland Chinese stocks ended up mixed; the Shanghai composite rose 0.19 percent to 3,259.86; the Shenzhen component fell 0.492 percent to 12,318.78.
The Kospi in South Korea rose 0.89 percent on the day to 2,710. In Australia, the S&P/ASX 200 rose 0.86 percent to 7,341.10.
The MSCI Asia Pacific ex-Japan index rose 1.16 percent.
Key Points: Nio's shares hit 44.20 HKD, up 20%, with electric vehicle deliveries up 134.6% year-on-year to 15,620. BYD leads…
Key Points: Ethereum fell sharply from $3,355 to a low of $2,813, reflecting high volatility and sensitivity to market dynamics.…
Key Points Nikkei 225 slightly fell by 0.1%, while the Hang Seng index surged by 2.4%. USD/JPY increased slightly, highlighting…
Key Points: Gold prices rose on MCX India to ₹71,278/10 gm and COMEX US to $2,328/oz. The US Dollar Index…
Key Points: USD/MXN closed at 17.1268, down by 0.64%. The US Dollar Index increased by 0.67%, highlighting its strength at…
Key Points AUD/USD Pair shows early recovery, currently priced at 0.6525, indicating a subtle improvement and a possible shift in…
This website uses cookies.