Negative news from the eurozone has global investors fleeing to safer havens. The Indian equity market closed in the red on Monday after two days of gains. The worsening debt crisis in Europe along with a slowing US economy has left investor sentiment subdued.
Meanwhile, oil prices fell 2% on Monday, sending investors scouting for new places to park their money. Brent crude for July delivery fell USD 2.29 to settle at USD 110.10 a barrel and falling intra-day as low as USD 108.58 a barrel. Back home, a call to hike prices of diesel and cooking gas may finally be taken this week. Last week, retail prices of petrol were hiked by Rs 5 a litre. According to Ralph Acampora, Portfolio Manager & Director, Alverita, crude is getting that important support at current levels. He tells CNBC-TV18,Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
