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.
Speaking exclusively to CNBC-TV18, investment guru Jim Rogers said that the overnight slippage in the prices is terrific for the market.
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