Friday, August 6, 2021

Business Roundup: Sensex and Nifty end almost flat; Brent crude prices fall below USD 73 per barrel mark

The Sensex and the Nifty today ended almost flat amid weak cues from global equity markets. The Rupee appreciated 22 paise against the US currency and Brent crude prices fell below USD 73 per barrel mark.

The Sensex at Bombay Stock Exchange gained 21 points, or 0.04 per cent, to close at 52,344. Divergently, the Nifty at the National Stock Exchange fell eight points, or 0.05 per cent, to settle at 15,683.

In global equity markets, Asian shares traded mixed after the U.S. Federal Reserve projected higher interest rates in 2023. Hong Kong’s Hang Seng rose 0.9 per cent, Singapore’s Straits Times gained 0.2 per cent and South Korea’s KOSPI added 0.1 per cent. China’s Shanghai Composite Index finished almost flat while Japan’s Nikkei-225 lost 0.2 per cent. European shares were down in intra day trade.

Crude oil prices fell for a second straight session.  In intra-day trade, Brent crude prices were trading around USD 72.60 per barrel.

Gold prices gained Rs 255 at Multi Commodity Exchange for August contracts. Gold was trading at Rs 47,215 per 10 gram. Silver prices also climbed Rs 1100 to trade around Rs 68,700 per kilogram for July Contracts when reports last came in.

The Rupee appreciated 22 paise to close at Rs 73.86 against the US Dollar. The domestic unit managed to bounce back modestly after falling to trade beyond Rs 74 per Dollar mark even as the US currency continued its strengthening rally.

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