Benchmark indices opened with a gap-down on March 6 as crude oil prices continued to climb. The relentless rally in oil triggered a sell-off on Wall Street overnight, which in turn weighed on sentiment in domestic markets. However, the United States Department of the Treasury issued a temporary waiver on economic sanctions against Russia, allowing the delivery and sale of Russian oil currently stranded at sea to India. This eased off some concerns over the potential increase in domestic oil prices.
Sensex, Nifty Opens With Gap-Down As Crude Rally Continues; 30-Day Waiver On Russian Oil Purchase Caps Losses
Sensex and Nifty fell in early trade as the continued rally in crude oil prices sparked a sell-off in US markets overnight, dampening sentiment in domestic equities. However, a 30-day waiver allowing the purchase of Russian oil helped limit the downside
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