Moneycontrol
Last Updated : Sep 04, 2018 04:59 PM IST | Source: Moneycontrol.com

Markets@Moneycontrol: Weak rupee continues to drag indices lower

Investors were likely to have been worried about macro effect of higher crude oil prices, even as Brent crude touched USD 79 per barrel.

Moneycontrol News @moneycontrolcom

Moneycontrol News 

It was a double whammy for the market on September 4 as a weak rupee along with higher crude oil prices dragged the market further. The Nifty managed to give up 11,550-mark, while the Sensex shed 38,200-mark as well.

Investors were likely to have been worried about macro effect of higher crude oil prices, even as Brent crude touched $79 per barrel. Any upmove on oil prices adversely impacts domestic macros, particularly in case of India. The nation imports a huge quantity of its oil requirements. Hence, this bullishness could hurt India’s finances as more money would have had to be spent by the exchequer to buy this oil.

For more, watch the Markets@Moneycontrol show as Uttaresh Venkateshwaran talks to Anchal Pathak about what moved the markets today.
First Published on Sep 4, 2018 04:58 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant