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Synopsis: India VIX was down by 1.15% from 11.78 to 11.65 levels on Wednesday. Volatility has been hovering in a choppy manner with the absence of strength to the bulls.

The drop in oil prices will lead to a moderation in inflation and a slowdown in the economy, which in turn will lift stock prices in the US. If the bond market stabilizes, it will be positive for the stock market. A drop in oil prices would be beneficial for India. The Wall Street has been overly pessimistic and bearish, but a recession is not imminent. Overall, the drop in oil prices as a positive development.

On Thursday, the MCX December gold futures were trading at Rs 56,860 per 10 gram, up by Rs 139, or 0.35%. Meanwhile, December silver futures were trading at Rs 67,399 per kg, lower by Rs 514 or 0.77%.

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A total of 2,466,202 shares changed hands on the counter till time (IST).

Foreign portfolio investors were net sellers at Rs 4,424 crore on Wednesday. DIIs bought shares worth Rs 1,769 crore.

* A broad selloff in world government bonds on Wednesday drove up U.S. 30-year Treasury yields to 5% for the first time since 2007 and German 10-year yields to 3%, which could hasten a global slowdown and hurt stocks and corporate bonds.

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