Benchmark Sensex, Nifty end in the red
Crude oil prices remained near 12-year lows on the prospect of Iran unleashing its oil on an oversupplied market and few signs of improving demand in a fragile global economy. Brent crude fell as much as USD 29.73 a barrel, the lowest level since Feb 2004, before steadying at USD 30.66 a barrel (up 1.15% at 4 pm IST), according to moneycontrol.com.
Infosys boosted market sentiment by posting better-than-expected third quarter earnings.
Tata Steel was downgraded to BB- by the global rating agency S&P, which stated that the company's subdued operating performance led by subdued demand and low steel prices led to the decision. The company's shares took a hit.
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