Stock Market Today | Mumbai / Hyderabad, Oct 12: Crude oil prices declined amid hopes of reduced pressure on global energy supplies. Brent crude fell 1.47% to $103.18 per barrel on Monday morning.
US West Texas Intermediate crude dropped 1.68% to $90.31 per barrel. However, continuing geopolitical tensions remain a concern for investors.
The Reserve Bank of India announced fresh measures over the weekend to support the rupee. The measures aim to redirect oil companies’ dollar purchases away from the spot market.
The RBI also tightened certain hedging rules to help manage currency volatility. These steps could ease pressure on the rupee and support market sentiment.
However, analysts have cautioned that the latest recovery may represent temporary relief rather than a sustained market turnaround. Foreign portfolio investors continued selling Indian equities, while domestic institutional investors provided support.
Stock Market Today
Several companies are also in focus following quarterly business updates. Avenue Supermarts reported a 7.6% year-on-year rise in September-quarter net profit.
Poonawalla Fincorp reported a fivefold increase in consolidated quarterly net profit. Mahindra & Mahindra, meanwhile, reported a 19.2% year-on-year decline in production during the September quarter.
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Investors will monitor crude oil prices, currency movements, foreign fund flows and corporate earnings for further direction. Market participants will also assess whether the recent rebound can develop into a more sustained recovery.
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