Nifty Bank Cracks 500 Points as Record Low Rupee and $105 Oil Fuel Fears of Rate Hikes

India’s banking sector faced heavy selling pressure on Tuesday. A combination of a collapsing currency and skyrocketing energy prices forced investors to rethink the outlook for credit growth and inflation.The Nifty Bank index dropped 547.55 points, or 1.01%, to trade at 53,892.3

Read More

  • Related Posts

    Hardeep Puri Flags Fiscal Strain: ‘How Long OMCs Will Be Able To Take It, It Worries Me’

    Union Petroleum and Natural Gas Minister Hardeep Singh Puri delivered a candid warning to industry leaders on Tuesday. Speaking at the CII Annual Business Summit, the Minister addressed the growing gap between global energy costs and domestic retail prices.While Puri assured the Read More

    Dollar Rises as Fading Middle East Peace Hopes and $105 Oil Fuel Inflationary Fears

    The U.S. dollar strengthened broadly on Tuesday as talks to end the war in the Middle East showed no signs of progress, pushing oil prices higher and worrying investors that interest rates may need to stay higher to tackle inflationary pressures.Investors now fear that the ceasef Read More

    Leave a Reply

    Your email address will not be published. Required fields are marked *