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Market cheers as crude plunges, Expert sees an upswing soon

The deep cut in oil prices on Friday beefed up the Indian market. Nifty touched the 5500 level as London Brent crude lost nearly 9% on Thursday and Friday as well. It was down USD 2.6 to USD 108.22 a barrel. The sharp chop-down in the oil prices has reinforced hopes of decline in inflation and spread the cheer in the street.

first published: May 6, 2011 06:45 pm

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