Indian shares set to extend advance on softer oil, steady earnings
Indian markets moved lower in a quarterly results development.
· LiveMint Markets
Brent crude traded flat at about $105 a barrel after dropping 7% in the previous session as talks between Iran and Qatari mediators lifted hopes for an end to the US-Israeli war with Iran.
The analysis
This is an Input cost / crude event. India imports most of its crude, so input costs pass through to margins downstream and to the rupee. Producers and consumers of the same input move in opposite directions.
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