Oil Increased by a staggering $25 to end at $120.92 .The rise is the record single day increase in the oil prices ever. This is going to effect the Indian economy Multi folded, the inflation concern is back with oil prices set to rise. The sentiments of the Indian stock market is hit, with the current financial crisis the increase in oil will wreck havoc today in the BSE and the Nifty. I predict that the sensex is goin down by 200 points and main companies that will get effectd is the bankex and realty sectors.
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The markets ended weak on Tuesday due to heavy selling in IT, realty and banking stocks. The benchmark BSE Sensex plunged 424 points or 3 per cent to end at 13,570 levels.
source: www.bseindia.com
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