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The dollar fell as OPEC+ announced unexpected oil output cuts, leading investors to focus on the diverging central bank policies with the Federal Reserve expected to put a halt to its rate-hike cycle. Oil production cut announcements have complicated the global inflation outlook, resulting in Brent crude last trading at $84.48 per barrel. Futures traders have factored in rate cuts by December. Interest rate differentials are thought to be the main driver for euro-dollar, with traders pricing in around 60 basis points of tightening from the ECB by the end of the year.

The Goldman Sachs- and Equity International-backed company had filed a DRHP with the markets regulator in 2019 to raise about Rs 1,900 crore through an IPO, but the plan was shelved due to the pandemic.

For April, the market will remain shut for three days. Apart from the above two days mentioned, markets will also not function for Ambedkar Jayanti next week.

Oil prices soared nearly 6% on Monday after Saudi Arabia and other major oil producers said they will cut production by 1.15 million barrels per day from May

Several OPEC member-countries led by Saudi Arabia have unexpectedly agreed to reduce their oil production by more than one million barrels per day from May 2021 to the end of the year, signalling their desire to curb a recent fall in crude prices. The cuts come despite the fact that the group and Russia had also cut production by two million barrels per day in October 2020, which angered the US

Before the intervention, global oil supply was set to exceed demand by about 500,000 barrels a day from April to June, before flipping into a deficit in the second half as China’s post-pandemic demand recovery picks up, according to Bloomberg calculations using data from the International Energy Agency

The Nifty IT index closed 0.23 per cent down at 28633.0.

According to the fourth quarter business update released by the bank, corporate and other wholesale loans jumped 12.5% in the period ending March 2023.

Nifty Bank outperformed headline indices and the broader markets with gains of 0.5%.

The minister said capital markets regulator Sebi, along with exchanges, conducts regular inspection of brokers based on certain criteria and takes action as per its regulations and bye-laws of the exchanges.