Brent crude remained near $115 a barrel, close to a six-month high, as attacks on Saudi Arabia limited hopes of a near-term resolution to Middle East tensions. The elevated oil prices are a concern for India, which depends heavily on imports to meet its energy needs. Sustained high prices could push up inflation, pressure government finances and hurt corporate earnings. Foreign investors continued to sell domestic equities, offloading Rs 1,462 crore on Monday and taking their October outflows to $4.75 billion.
Globally, Asian markets showed divergent trends as investors assessed the artificial intelligence sector’s prospects following Anthropic’s IPO filing and a rally in US technology stocks. South Korea’s Kospi jumped 4.39%, driven by chipmakers and stronger-than-expected GDP growth, while Japan’s Nikkei rose 1.91%. In contrast, Australia’s ASX 200 slipped 0.3% ahead of quarterly inflation data that could shape the Reserve Bank of Australia’s next rate decision. New Zealand’s NZX 50 fell 0.8% ahead of its central bank announcement. The Fed’s decision on Wednesday and earnings from major US technology firms remain key global market triggers.
(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)
