From The Economic Times · ET Bureau · · 1m 20s
D-Street breaks 8-week losing run
Indian equities rebound after 8-week slump as oil prices ease.
In brief
Indian equities rebound after 8-week slump as oil prices ease. Indian stock markets rose after an eight-week losing streak ended as crude oil prices fell. Originally reported by The Economic Times.
Indian equities rebound
Indian equities snapped an eight-week losing streak on Friday as easing crude oil prices helped stocks rebound from the previous session's sharp selloff.
Sensex and Nifty rise
The BSE Sensex rose 879.09 points, or 1.23%, to close at 72,472.33, while the NSE Nifty 50 advanced 288.65 points, or 1.30%, to settle at 22,520.45.
Weekly gains
For the week, the Sensex gained 0.8%, and the Nifty rose 0.4%.
Brent crude falls
Brent crude oil prices fell to $102.90 per barrel on Friday, down roughly 1.32% from the previous day when prices went past $104 a barrel, due to supply concerns in the Middle East.
Market sentiment remains cautious
Elevated global bond yields and persistent foreign fund outflows continue to weigh on sentiment, keeping the outlook cautious.
Foreign fund flows
Foreign portfolio investors were net sellers of equities worth ₹3,569 crore on Friday, while domestic institutional investors were net buyers to the tune of ₹4,743 crore.
Treasury yield trends
The benchmark 10-year US Treasury yield was trading at 5.27% on Friday, below the 5.34% level it hit last week, its highest since 2002.
Here's the gist
Indian stock markets rose after an eight-week losing streak ended as crude oil prices fell.
