Indian markets weaker as oil hits $115.7, Jio Platforms lists
Indian stock markets are set for a weak start today, with oil prices jumping to $115.7 per barrel after an attack on a Saudi refinery. This has raised concerns about energy supply disruptions and inflation.
All eyes are also on Jio Platforms, which is making its stock market debut and could quickly become one of India's biggest listed companies.
Plus, investors are waiting to see what the US Federal Reserve says later today about tackling inflation.
Jio Platforms IPO raises $3.2 billion
Jio Platforms just pulled off a record-breaking IPO, raising $3.2 billion after getting massive interest: bids hit $77 billion!
Meanwhile, foreign investors bought ₹42.4 billion worth of Indian stocks yesterday (the most in nearly two months), while domestic funds sold ₹12.5 billion, showing mixed vibes in the market right now.
Globally, rising oil prices have made things shaky.