Mumbai: Sensex on Wednesday opened on a negative note as it dipped almost 50 points in the morning trade session, while Nifty opened 10,706.50 points. According to reports, the negative trend was observed in the morning due to pressure on oil marketing companies as Donald Trump sanctions on Iran which may further push up global crude oil prices.
However, the early morning trends are expected to change throughout the day considering that several companies would be announcing their quarterly results today. Eicher Motors, Jindal Steel & Power, Jubilant Life Sciences and Oriental Bank Of Commerce are some of the companies which would be announcing quarterly results for March 2018.
It may be noted that the marginal dip observed in the morning was mostly due to rising oil prices, as crude edged closer to a three-and-a-half-year high today, following Trump’s decision to back out from the international nuclear deal with Iran.
Soon after the late-night development, Asian stocks slowed down as fresh sanctions has been seen as a threat by several companies. It should be noted that stock markets in Asia, especially Japan, observed a dip after the decision.