Markets in the red on crude fears

Commentary

oi-Sunil

By Sunil Fernandes

Published: Friday, March 2, 2012, 10:38 [IST]

Markets were trading in the red despite opening the day on a positive note, as sharp surge in crude prices stalled any runaway gains.
The BSE Sensex was trading lower by 33 points at 17550, while the NSE Nifty was down 15 points art 5324 points at 2.25 PM IST.

Mphsasis was down 7% reacting to its numbers. DLF continued to drop amidst reports of suspected accounting practices at the company.
Crude continued its uptick with Brent Crude trading at almost $126 per barrel. Marketmen fear that rising crude would result in hike in petrol prices, which would once again spur inflation. Markets are expected to remain volatile today on the last trading day of the week.

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