Stock market today: RBI policy, global cues and oil prices in spotlight
Indian benchmark indices might be headed for a steady start as crude prices continue to fall, tumbling almost 6% on Monday. Oil prices dropped sharply after US President Donald Trump said talks with Iran were expected to take place, raising hopes that tensions in West Asia could ease. In a post on Truth Social, Trump said Iran and other Middle Eastern countries had asked for more time to finalise a deal that would reopen the Strait and address concerns over Iran’s nuclear programme.
The possibility of easing tensions pushed Brent crude down by more than 6 per cent. Lower oil prices are usually good news for India, as the country imports most of its crude oil. Cheaper oil can help keep inflation under control and reduce import costs, improving the overall outlook for the economy. Brent crude later traded around $83.90 a barrel, while WTI crude was around $80.15, helping support positive sentiment in the stock market.
