Wholesale rubber shock absorption pad slide

Gains in banking and financial services stocks pushed the markets higher.224.24 barrel Tuesday.The broader Nifty also managed to end above the 10,200-level.72 per barrel Wednes-day.25 per cent on falling global crude oil prices.07 points before finally concluding 186.37 per cent, its biggest single-day fall in three months, to USD 76.Brent crude prices fell 4.. It hit a low of 33,726.97 in early hours of trade, largely supported by easing crude prices and recovery in the rupee amid positive Asian cues.Mumbai: Reversing a four-session Wholesale rubber shock absorption pad slide, the BSE Sensex on Wednesday recaptured the 34,000-mark by jumping 187 points, amid easing crude oil prices and a recovery in the rupee.95 points, or 0. But in the latter part these losses were recovered due to sharp fall in oil prices and short covering ahead the F&O expiry.Bear operators, who had been creating short-positions in the past several sessions, were seen covering up positions ahead of October month expiry in the derivatives segment on Thursday, brokers said.

The benchmark oil was trading at $76.35 crore Tuesday, provisional data showed."Additionally, a recovery in rupee and drop in yield is expected to improve the liquidity situation supported by RBIs open market operations," said Vinod Nair, Head of Research, Geojit Financial Services.Meanwhile, the rupee strengthened 41 paise to 73.The broader NSE Nifty too recovered by 77.41 crore, while foreign institutional investors (FIIs) sold shares to the tune of `340. Domestic institutional investors (DIIs) made purchases worth a net of `116.After opening on a strong footing, the Sensex quickly reclaim-ed the 34,000-mark to scale the session’s high of 34,300.73 points, or 0.However, a sudden sell-off by investors dragged the benchmark into the negative zone.

However, losses in IT and pharma counters capped the upside.Both crude benchmarks have fallen about $10 a barrel from four-year highs reached in the first week of October, and are on track to post their worst monthly performance since July 2016.US West Texas Intermediate (WTI) crude futures advanced 16 cents, or 0.09 a barrel.8 per cent on Tuesday, at one point touching their lowest since Aug.3 per cent the day before, after hitting their weakest since Aug.Oil production from Russia, the United States and Saudi Arabia reached 33 million barrels per day (bpd) for the first time in September, Refinitiv Eikon data showed.2 per cent, to $66.Investors will look to official govement data on US inventories due on Wednesday.