Stock Market Today: Indian markets are expected to follow gloomy global on Tuesday, December 6. Over 54 points, or 0.29 percent, were lost, bringing the SGX Nifty, a leading gauge of mood on the NSE Nifty50, to 18755. Before the Reserve Bank of India’s (RBI) Monetary Policy Committee, the benchmark 30-share BSE Sensex and the larger 50-share NSE Nifty50 could start out significantly lower (MPC). The benchmark price for the 30-share BSE index fell 33.9 points on Monday, or 0.05%, to close at 62834.60. The NSE Nifty, which covers a wider range of stocks, managed only slight gains, finishing 4.95 points or 0.03 percent higher at 18701.05.
The Federal Reserve’s ability to raise interest rates for longer spooked investors by better-than-expected data from the services sector, and shares of Tesla fell on news of a production cut in China. U.S. markets ended Monday lower.
Rise in prices of gold and silver
According to HDFC Securities, the price of gold increased by Rs 227 to Rs 54386 per 10 grammes in the capital on Monday. The precious metal had previously traded at a price of Rs 54159 for every 10 grammes. A kilogramme of silver increased by Rs 1166 to Rs 67270.
Stock Market Today: Oil falls over 3%
Following a decline in U.S. stock markets and after U.S. service sector data sparked concerns that the Federal Reserve could continue its aggressive policy tightening course, oil prices plummeted more than 3% in the previous session. At $82.68 per barrel, Brent crude futures closed down $2.89, or 3.4%. WTI, or West Texas Intermediate, lost $3.05, or 3.8%, to $76.93 per barrel. Before changing course, both benchmarks had earlier increased by more than $2.
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