Oil Spike on Middle East Tensions Puts India’s Stock Rebound at Risk
Domestic flows, earnings and Modi’s state-election wins could offer support.
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Good morning...
I’m Ashutosh Joshi in Mumbai with a quick look at the market mood ahead of Tuesday’s open.
A flareup in violence in the Persian Gulf and a subsequent rise in oil prices may make it hard for Indian equities to build on their recent gains. With markets shut in China, Japan and South Korea, local stocks will likely draw more regional attention today. Hero MotoCorp, Larsen & Toubro and Mahindra & Mahindra are among the big names reporting results. Meanwhile, a decisive outcome for the ruling party in state elections — especially a milestone victory in West Bengal — is likely to give Prime Minister Narendra Modi fresh momentum to push through his political and economic agenda.
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