Stock Market LIVE Updates: Indian equity benchmarks Sensex and Nifty50 extended gains after a gap-up opening on Friday amid positive global cues after US President Joe Biden unveiled harsh new sanctions against Russia.
HUL, ITC, Dabur, Godrej Consumer, Tata Consumer in the green in late afternoon deals.
Mayank Shah of Parle Products tells CNBC-TV18 the company took a price hike of 6-7 percent this year, and record high palm oil rates are impacting input costs.
Oil production is going to increase in the US but it will take several months to reach 6,00,000 barrels a day, says Andrew Lipow of Lipow Oil Associates.
Broader markets flirt with bear territory, as headline indices rebounded amid positive global cues a day after their worst fall in 21 months.
The impact of the conflict could also be felt through the risk-off channel – with portfolio outflows, falling asset prices and depressed urban consumer sentiment acting as headwinds for the economy,” he adds.
According to the market cap, few of the top altcoins have gained decent growth over the past day,” says Edul Patel, Co-Founder and CEO of global crypto investing platform Mudrex.
“We expect fiscal measures to offset the impact on consumers, while monetary policy responses will likely vary.
Sonal Varma of Nomura is of the view that a sustained rise in oil and food prices would adversely impact Asia’s economies through higher inflation, weaker current account and fiscal balances, and a squeeze on economic growth.
Although Asia is a net importer of oil, crude pricing has historically had little impact on currencies, economies and equities,” says Dan Fineman of Credit Suisse.
Ravi Singh, Vice President and Head of Research at ShareIndia, is of the view that gold may continue its bull run towards Rs 52,000 per 10 gms on MCX taking cues from geopolitical tensions and higher inflation.