Evening Walk Down D-Street on April 8, 2019
Episode 1062, Apr 08, 2019, 11:44 AM
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Bulls failed to remain in control of D-Street as the S&P BSE Sensex fell by 341 points from its intraday high of 39,041 as investors preferred to book profits as ahead of earnings, valuation premium and the recent surge in crude oil prices got investors on the sidelines.
Crude oil prices are trading at 5-month highs driven upwards by OPEC’s ongoing supply cuts, U.S. sanctions against Iran and Venezuela, fighting in Libya as well as strong U.S. jobs data, said a Reuters report. Brent Crude has rallied over 30% in 2019.