ndian stock indices which posted their first weekly fall this year may see some more profit booking in the coming days on renewed worries over rising global oil prices, say analystsHigher oil prices hit investor sentiment as it could weigh heavily on inflation, and hold RBI from lowering lending rates, marketmen said. Brent crude touched 9-month high of over USD 124 a barrel. "Stock market can see some more selling pressure this week as rising global crude oil prices raises concerns that the RBI may not go for a rate cut," Geojit BNP Paribas Research Head Alex Matthews said. The markets might go into some consolidation for sometime before moving up and the correction that has started after a strong rally in the last few weeks should be used by investors as buying opportunity, analysts said. Weighed down by profit taking, the BSE benchmark Sensex broke 7-week winning spree, tumbling 366 points to finish below the 18,000 mark in view of concerns over rising crude oil prices and higher fiscal deficit.
The Indian stock markets have been attracting lot of FII inflows during the last few weeks.
The Indian stock markets have been attracting lot of FII inflows during the last few weeks.
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