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Crude oil prices could be the single biggest factor driving markets today

BS Web Team/New Delhi 23 Apr 19 | 07:50 AM

Crude oil prices could be the single biggest factor driving the markets on Tuesday as the US decided to end all Iran sanctions waivers by May, pressuring importers to stop buying from Tehran. Apart from this, announcement of March quarter earnings, stock-specific action and movement of rupee against the US dollar will also play a key role.


On the political front, phase 3 of 2019 Lok Sabha elections might keep the indices volatile. 116 constituencies across 14 states and Union Territories will go to poll today.

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On Monday, the S&P BSE Sensex lost 495 points or 1.26 per cent to settle at 38,645, while the NSE's Nifty50 index lost 158 points or 1.35 per cent to end at 11,594.


In the forex market, the rupee plunged by 32 paise to close at a two-week low of 69.67 against the US dollar.


GLOBAL MARKETS


Asian shares were little changed on Tuesday, with concerns China may slow the pace of policy easing curbing the market’s enthusiasm. MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat, while Japan’s Nikkei average eased 0.2 per cent.


The US stocks ended almost flat in the overnight trade on Monday.


Oil prices hovered near 2019 peaks in early trading on Tuesday. Brent crude futures were at $74.33 per barrel at 6:21 am, up 0.4 per cent from their last close.


Top stocks to watch


Earnings today: As many as 15 companies are slated to release their March quarter earnings today. Prominent among them include ACC, Sasken Technologies, Indiabulls Real Estate and Tata Global Beverages.


GAIL: It has emerged as the highest bidder for seven operating wind power plants of Infrastructure Leasing and Financial Services (IL&FS) having a total generation capacity of 874 megawatts.


Essel Propack: Private equity major Blackstone said on Monday it was making its largest investment in the consumer sector in India by picking up a 51 per cent stake in Essel Propack for up to Rs 3,211 crore. 

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Sensex

Company Price Gain (%)
IndusInd Bank1,596.855.23
Coal India244.051.56
Yes Bank139.801.53
Hero Motocorp2,739.651.51
Power Grid Corpn184.451.29

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