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Home » Business » Stock Market Live Updates: ‘Decline in oil is not purely an oversupply problem’ says, Radhika Rao, Economist, DBS Group Research

Stock Market Live Updates: ‘Decline in oil is not purely an oversupply problem’ says, Radhika Rao, Economist, DBS Group Research

Some $2.69 trillion in market value was wiped from the S&P 500 as it suffered its third-largest daily percentage decline on record

By Newsd
Updated on :
Stock markets likely to face volatility

Stock Market Live Updates March 17:

12:16 PM: ‘Decline in oil is not purely an oversupply problem’ says, Radhika Rao, Economist, DBS Group Research

The decline in oil is not purely an oversupply problem but also reflects weak global demand. Risks are mounting to global growth, including the US, Europe and China, which pose considerable risk to the oil demand dynamic, said Radhika Rao, Economist, DBS Group Research


10:32 AM: Nifty closed 6.4% lower month-on-month in February

The Nifty closed 6.4 per cent lower MoM in February, mirroring the slide in the global markets on concerns about coronavirus spreading beyond China. Nevertheless, the MF space appeared to be relatively insulated with steady inflows and the contribution of systematic investment plans (SIPs) remaining stable at INR85.1b in the month (+5.2% YoY), according to Motilal Oswal Retail Research.


10:26 AM: Rupee rises 25 paise to 74 against US dollar in early trade

The Indian rupee appreciated by 25 paise to 74 against the US dollar in early trade on Tuesday tracking positive opening in domestic equities and the Reserve Bank of India’s liquidity enhancing measures.


Financial markets cratered on Monday. The S&P 500 tumbled 12 percent, its biggest drop since “Black Monday” three decades ago, despite the Fed’s surprise move late Sunday to cut interest rates to near zero, its second emergency interest rate cut in less than two weeks.

Some $2.69 trillion in market value was wiped from the S&P 500 as it suffered its third-largest daily percentage decline on record. Over the past 18 days, the benchmark index has lost $8.28 trillion.

Traders are looking ahead to data due later on Tuesday, which is forecast to show German investor sentiment tumbled in March.

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