Stock Market Update: Following election results that suggested the ruling Bharatiya Janata Party (BJP) will maintain power in the crucial state of Gujarat, Indian equities ended a losing streak on Thursday, driven by a rally in state-owned lenders amid prospects for policy continuity. The S&P BSE Sensex ended a four-day losing run to conclude 0.26% higher at 62570.68, while the Nifty 50 index posted gains in the last two sessions to trade 0.26% higher at 18609.35. In contrast, the opposition Indian National Congress appeared poised to retake power in the tiny northern state of Himachal Pradesh, where Prime Minister Narendra Modi’s BJP is expected to win by a landslide margin.
Oil rebounds lows on China demand hopes
After four sessions of fall, oil rose on Thursday, supported by expectations that loosening anti-COVID regulations in China will stimulate demand as well as indications that some tankers carrying Russian oil have been delayed as a result of the implementation of a G7 price restriction. At least 20 oil tankers encountered delays Wednesday as they attempted to reach the Mediterranean from Russian ports on the Black Sea, while China on Tuesday made the most significant adjustments to its staunch anti-COVID policies since the pandemic started. By 0905 GMT, Brent crude had risen 29 cents, or 0.4%, to $77.46 per barrel, while WTI crude in the United States had risen 73 cents, or 1%, to $72.74.
European shares fall
On Thursday, European stocks declined on mounting concerns about an impending recession, with utilities and telecom companies leading the way lower. At 8:15 a.m. GMT, the STOXX 600 for the entire region was down 0.1%. On Wednesday, the index fell for a fourth straight session as worries about a slowdown in economic growth increased ahead of a flurry of interest rate announcements from major central banks the following week. Telecommunications and utilities had early trading declines of roughly 0.6% and 0.5%, respectively, among STOXX 600 sectors.
Stock Market Update: Gold inches lower as dollar ticks up
On Thursday, gold prices declined as the dollar marginally strengthened. Market participants are waiting for more guidance on U.S. rate hikes from the Federal Reserve meeting next week. As of 0248 GMT, spot gold was down 0.2% at $1,783.50 per ounce after increasing more than 1% on Wednesday thanks to a decline in the dollar and U.S. government yields. The price of U.S. gold futures fell 0.2% to $1,795.10. The dollar index increased by 0.2%, increasing the cost of the metal for customers using other currencies.
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER
 will maintain power in the c){kind=link}