Market Bizzz

Analysts do not expect dramatic new sanctions on Iranian oil, although the U.S. was set to reimpose oil sanctions on Venezuela which steadied Brent crude futures at $87.37 a barrel after Wednesday’s $2.70-a-barrel drop.

Spot gold was up 0.4% at $2,369.93 per ounce, as of 0107 GMT. U.S. gold futures dipped 0.1% to $2,385.10 per ounce.

Brent futures were up 10 cents, or 0.11%, at $87.39 a barrel, while U.S. crude futures traded 2 cents higher at $82.71 a barrel at 0053 GMT. The two benchmarks slid 3% in the previous session on demand worries.

Exide and Amara Raja stocks soared due to increasing EV demand. Analysts foresee bright prospects for Exide with Hyundai and KIA partnership, government aid, and EV market growth. The companies are set to capitalize on the rising trend.

Vodafone Idea’s ₹5,400-crore offer to anchor investors was fully subscribed, with support from various foreign institutional investors, domestic mutual funds, and the Government of India. This fundraising effort aims to strengthen the telco’s financial position and support its future plans.

Rupee weakened past 83.50/$1 against the dollar due to US rate cut uncertainty, Middle East tensions, and RBI intervention. Impact of US retail sales, inflation data, and high forex reserves also contributed to the currency’s performance.