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Stock impact report

Indian shares dented by crude surge, financials drag [Reuters]

ICICI Bank Limited (IBN) 
Company Research Source: Reuters
Indian shares dented by crude surge, financials drag - Reuters 3 Min Read * NSE index down 0.79 pct, BSE index falls 0.7 pct * Oil prices climb, rupee hit * Reliance Ind falls on weak qtr for core business By Chris Thomas April 22 (Reuters) - The Indian stock market fell the most in nearly two weeks on Monday as oil prices ratcheted higher and pushed the rupee to a six-week low, while losses in financials also weighed. Oil prices shot up by about 3 percent as the United States prepared to announce that all imports of Iranian oil must end or be subject to sanctions. India and China are Iran’s biggest oil customers, and have been lobbying for extensions to sanction waivers. India is also the world’s third-biggest oil importer and any spike in prices puts pressure on the regional economy and markets. The rupee weakened by 0.75 percent to 69.88 against the U.S. dollar. “There is a high probability of crude going up to between 75 and 80 dollars a barrel, which will be negative for the Indi Show less Read more
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