Commodities
Crude Oil Prices Surge on Renewed US-Iran Tensions
Crude oil prices surged 4.85% on Monday to Rs 9,277.00 per barrel in MCX trading, driven by renewed US-Iran tensions and doubts over the Strait of Hormuz that pushed Brent back above $106 dollars a barrel.
Nifty 50 fell 1.56% to 22,780.25, while India VIX rose 12.17% to 13.64, indicating increased volatility in the market.
According to Univest's research desk, led by Ankit Jaiswal and Kunal Singla, global cues will be closely tracked as commodity prices on MCX often move in step with international benchmarks and the US Dollar Index.