The Nifty Bank index opened strong and continued its bull run but it failed to hold on to the momentum and witnessed some profit booking at higher levels. The index formed a ‘Doji’ kind of candle on the daily charts which suggests indecisiveness among the bulls and bears.
Oil prices edge down, forecasts for higher oil output, weak demand growth weigh
Oil prices edged lower. Global production is expected to rise. Demand growth forecasts are weak. The US dollar strengthened. OPEC lowered its oil demand growth