OMC, paint stocks in focus as crude falls to its lowest level in nine months
Crude prices amid the sharp fall are trading at their lowest level in nine months.
OMC (oil marketing companies) are in focus in Wednesday's session (September 4) as the crude oil prices were knocked down sharply. In the previous trading session, crude oil prices decreased by a sharp 4 per cent.
Today, oil prices fell further, extending their previous day's over 4 per cent losses, amid expectations that the political turmoil that stopped Libyan exports may now be resolved. Also, lower global demand concerns are weighing on the commodity.
WTI crude price at the last count was trading at $69.81 per barrel, while Brent crude was at $73.24 per barrel.
Crude prices amid the sharp fall are trading at their lowest level in nine months.
The fall in crude price is a positive for Indian equities as it reduces import costs. India reduces a major portion of its total oil requirement.
Also, paint stocks will see traction as crude is the major raw material used by the industry.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SIP+SWP: Rs 15,000 monthly SIP investment for 20 years and Rs 100,000 monthly income for 45 years; know how it is possible
SBI Senior Citizen FD Rates 2024: What you can get if you invest Rs 3.5 lakh, Rs 7 lakh, Rs 10.50 lakh, and Rs 14 lakh in 1-, 3-, and 5-year FDs
15x15x15 Formula: In how many years Rs 15,000 monthly SIP can grow to over Rs 1 crore; see calculations
NPS vs OPS vs UPS: On Rs 15,000 monthly contribution for 30 years, which of 3 can give highest pension? Get calculations
08:50 AM IST