On Friday, share markets in India opened on a positive note and ended the day in green after a volatile day of trading.
The BSE Sensex closed higher by 318 points to end the day at 35,775. While the broader NSE Nifty ended the day up by 81 points to end at 10,763.
Among BSE sectoral indices, realty stocks rose the most by 1.5%, followed by FMCG stocks at 1.3%. Yes Bank and ITC. were among the top gainers.
Jet Airways share price is likely to be in focus today after reports that the struggling airline is close to a deal with Indian conglomerate Tata Sons.
As per the news, the board of Tata Sons is in the midst of a meeting to vet a proposal to buy out the cash-strapped Jet Airways.
Yes Bank share price will be in focus today as a search panel entrusted with finding Rana Kapoor's successor to lead YES Bank has shortlisted multiple names. As per the news, the names include those serving foreign as well as domestic lenders.
Oil prices are back on the rise on the back of expectations that the Organization of the Petroleum Exporting Countries (OPEC) would start withholding supply soon.
Crude oil has been witnessing buying interest lately as traders expected top exporter Saudi Arabia to push producer club OPEC to cut supply towards year-end.
Despite that, market sentiment remains weak on signs of a demand slowdown amid deep trade disputes between the world's two biggest economies, US and China.
The Organization of the Petroleum Exporting Countries (OPEC), de-facto led by Saudi Arabia, is pushing for the producer cartel and its allies to cut 1 million to 1.4 million barrels per day of supply to adjust for a slowdown in demand growth and prevent oversupply.
Speaking of crude oil, India's crude oil production was lower by 4.2% in September 2018 as compared to last year, as can be seen from the chart below.
The worrying factor is this was the lowest production this year.
Here's what Tanushree Banerjee wrote about it in one of the recent editions of The 5 Minute WrapUp...
It would be interesting to see how this pans out. Meanwhile, we will keep you updated on all the developments from this space.
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