Market Bizzz

The rupee hit a fresh closing low of 92.46 against the dollar on Friday, driven by concerns over rising crude oil prices and geopolitical worries in the Middle East. Sustained foreign fund outflows and importer demand further pressured the currency, with the Reserve Bank of India intervening to slow its fall.

Crude Oil Price Today (13 March): Crude oil prices dipped Friday morning after the U.S. issued a 30-day license for countries to purchase stranded Russian oil, easing immediate supply concerns. This follows a U.S. announcement to release 172 million barrels from its Strategic Petroleum Reserve as part of a coordinated effort with the IEA to stabilize global energy markets amid ongoing tensions in the region.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources.

Srinibas Pradhan Constructions is set to list on the NSE SME platform on March 13 with muted grey market signals, indicating a potential debut near its issue price of Rs 98. The Rs 20 crore IPO saw moderate subscription, with NIIs and QIBs showing interest, while retail participation was subdued.

Global markets are on edge as oil prices surge, nearing $100 a barrel. This spike fuels inflation fears, prompting central banks to consider aggressive interest rate hikes. The U.S. dollar is strengthening as investors seek safety. Tensions in the Strait of Hormuz add to market volatility. Economists warn of slower global growth. Cryptocurrencies are also experiencing a downturn.

Oil prices surged over 7% to near $100 per barrel despite the International Energy Agency announcing its largest-ever coordinated release of emergency reserves. Traders remain skeptical that the 400-million-barrel stockpile drawdown will offset supply risks from the escalating Middle East conflict, particularly if disruptions persist in the Strait of Hormuz, a key global oil transit route.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

The initial public offering of SoftBank’s PayPay ​is likely to price around the low end of its marketing range as war in the Middle East roil markets, said ‌two people ⁠familiar ⁠with the matter.

Oracle on Tuesday predicted that the AI ​data center boom will power its revenue above Wall Street estimates ​well into 2027, sending its shares up 8% in extended trading.