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Odisha News, Odisha Breaking News, Odisha Latest News || Ommcom News
Home Business

Oil Prices Up In July By 16 Per Cent; Highest Since Jan 22

OMMCOM NEWS by OMMCOM NEWS
August 11, 2023
in Business
oil market

New Delhi: The oil market witnessed a significant surge in prices by 16 per cent in July, the highest since January 2022, as per a report by Motilal Oswal Asset Management Company.

Silver and gold prices also rose by 8 per cent and 3 per cent, respectively.

The crypto market was an exception to the green wave, as Bitcoin & Ethereum fell by 4 per cent, followed by the collapse of FTX, one of the largest global cryptocurrency exchanges.

Both emerging and developed markets delivered positive performance, with South Africa emerging as a standout performer, surging by an impressive 13 per cent.

Within the US market, the NASDAQ 100 and S&P 500 indices recorded gains of 4 per cent & 3 per cent, respectively.

IT sector dominated S&P 500’s gains, the report said.

Nifty Smallcap 250 outperformed all major indexes clocked gain of 7.69 per cent, followed by Nifty Midcap 150 at 5.51 per cent.

Realty, Metals & Energy led the charge, rising 9 per cent each. On the flip side, IT lagged with a modest 1 per cent rise, the report said.

All sectors, excluding the Diversified sector, contributed positively to the NIFTY 500 returns, with the financial services sector making the most substantial impact.

(IANS)

Tags: Motilal Oswal Asset
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