Indian markets extended losses for a second day, led by weakness in FMCG and auto stocks. The Sensex and Nifty fell by 0.25% and 0.24% respectively. Despite the decline, bullish momentum remains in the Nifty, although it’s nearing overbought territory. The index is consolidating near resistance and may see range-bound movement in the near term.
Oil settles up over 1% on large draw from US crude stocks
Brent crude futures rose 91 cents, or 1.2%, to settle at $74.17 per barrel. U.S. West Texas Intermediate crude futures rose 98 cents, or 1.4%,
December 28, 2024