Sensex, Nifty Gain, Snapping Two-Day Losing Streak On Oil Below $100
NDTV
Indian benchmark stock indexes gained early on Wednesday, snapping a two-session losing streak tracking a crash in oil prices to below $100 a barrel.
Indian benchmark stock indexes gained early on Wednesday, snapping a two-session losing streak tracking a crash in oil prices to below $100 a barrel, attracting investors hunting for returns ahead of a widely anticipated US inflation print later in the day.
Asian stocks too recovered, snapping two straight days of losses, with the MSCI's broadest index of Asia-Pacific shares outside Japan gaining 0.65 per cent, after having slumped to its lowest in two years in the previous session.
Oil prices fell below $100 per barrel on rising fears of a global economic slowdown.
But risks to global equity markets remain and any moves seem inconsequential ahead of the highly anticipated June US inflation report, which likely accelerated to a 40-year peak of 8.8 per cent from a year ago, according to a Reuters poll of economists.
