GIFT Nifty traded down 18.5 points, or 0.10%, at  19,305.5, indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously on Monday, the NSE Nifty 50 tanked 260.90 points or 1.34% to settle at 19,281.75, while the BSE Sensex shed as much as 825.74 points to 64,571.88.  

“Markets started the week on a feeble note and lost nearly one and a half percent. After the flat start, the Nifty gradually inched lower and settled around the day’s low at 19,281.75 level.  The selling pressure was widespread wherein metal and realty were among the top losers.  However, a sharp cut in the broader indices caught the participants completely off-guard and both midcap and smallcap lost in the range of 2.9%-3.8%,” said Ajit Mishra, SVP – Technical Research, Religare Broking. 

“We feel the prevailing negativity is not going to subside anytime soon citing weak global cues and recent sell-off in th…

Oil prices were little changed in early Asian trade on Wednesday, as concerns eased about potential supply disruptions due to the conflict between Israel and the Palestinian Islamist group Hamas. Brent crude rose 12 cents at $87.77 a barrel by 0009 GMT. U.S. West Texas Intermediate (WTI) crude rose 3 cents to $86.00 a barrel.

Brent and WTI surged more than $3.50 on Monday as the military clashes raised fears that the conflict could spread beyond Gaza, but settled lower in Tuesday’s session. While Israel produces very little crude oil, markets worried that if the conflict escalates it could hurt Middle East supply and worsen an expected deficit for the rest of the year.

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