Bitcoin retreated from a six-week peak as global markets experienced a risk-off sentiment due to escalating Iran tensions. The cryptocurrency fell approximately 4.5% to $71,200, with Ether and Solana also declining. Rising oil prices are fueling inflation concerns, potentially delaying anticipated interest rate cuts by the Federal Reserve.Read More
Indian equity markets closed strong on March 18, with benchmarks extending their upward trend. Analysts suggest the index holding above Wednesday’s low of 23,618 will pave the way for further gains towards 24,000 and 24,300. Volatility eased as India VIX fell sharply below 20.Read More
Indian markets continued their recovery for a third straight session, with Nifty approaching the 23,800-24,000 resistance zone. Key stocks like Manappuram Finance, Kotak Bank, Nazara Technologies, and United Breweries are in focus due to significant corporate developments, including acquisitions, licensing agreements, and environmental clearances.Read More
Iran is reportedly considering demanding Chinese yuan for oil shipments through the Strait of Hormuz, a move that could challenge the US dollar’s dominance in global energy trade. This potential de-dollarization strategy aims to bypass sanctions and bolster ties with China, potentially leading to global financial market volatility and impacting India’s crude imports.Read More
The Indian rupee hit a record low of 92.63 against the US dollar on Wednesday, driven by high crude oil import costs and corporate demand for dollars. Despite RBI’s efforts to defend the 92.50 level, the rupee breached it following the release of oil premium data. Analysts anticipate further weakening if oil prices and geopolitical tensions persist.Read More
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