- 3 months ago
Renewed geopolitical tensions, a weak outlook for the IT sector and volatile crude oil prices are creating fresh uncertainty for investors. Experts share what these developments could mean for markets in the months ahead.
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00:09good afternoon dear viewers you're watching the business today show with me sakshi patra
00:12this is where i get you all the closing action on the lal street but first up let's take a
00:16look
00:16at what's hot in the financial world and the corporate world market street in the red as
00:25escalating tensions in west asia have pushed the crude oil prices higher the census has
00:29fallen about 500 points and is trading near 77 100 mark while the nifty has slipped around 160
00:35points to now trade under 24 050 mark autos psu banks real estate and financial stocks are leading
00:43the decline today the rupee has also breached the 96 per dollar mark as higher crude oil prices
00:48and the renewed u.s iran tensions are weighing on the currency the indian rupee is down half
00:54four percent in the early trade and the weakest level since may 22nd
01:01it's ill tech shares fall up to four percent after city and clsa downgraded the stock on
01:06valuation concerns the decline comes despite the it major reporting better than expected
01:11june quarterly earnings retaining its fi 27 guidance and posting record quarterly deal wins
01:21all marketing companies and aviation stocks under pressure as brent crude prices hit a one month high
01:26reaching 86 dollars a barrel escalating tensions in west asia have pushed up the oil prices dragging
01:32bpcl hbcl and iocl and even indigo shares lower in trade
01:41an anthropic has rolled out rupee denominated pricing for claude ai in india its second largest market globally
01:48claude pro subscriptions now start at 1,999 rupees per month on an annual plan
01:54but users will still need cards or app store billing as upi support is yet to be introduced
02:09u.s will straight away look at how the last half an hour of trade is panning out for the
02:14markets of course for the large part of the session
02:16we have seen building on pressure and now the markets are hovering about 145 points lower in the session
02:22it's been a choppy ride we have pulled up just a tad bit from the low point of the day
02:26but hovering around 24 067 odd mark with large part of the sectors contributing to the losses
02:31look at the nifty bank it's down by over a percent in the session today
02:35of course led by the fall in the psu banks financials as a whole the it stocks have also reversed
02:41the kind of gains
02:42they were looking at over the last couple of sessions about one percent lower auto index is in fact taking
02:47it on the chin
02:47you can see one and a half percent loss for the auto index it's the top laggard in the session
02:51today
02:52but it's the pharma and the metal story that is trying to be stronger in an otherwise very uncertain scenario
02:58you can see the pharma market about one percent higher the metal stocks about 0.6 percent up
03:03those are the only two indices that are holding up higher in an otherwise weak session
03:08let's actually look at india wicks also that's up three percent again pointing out to increased amount of fear
03:13in the indices and the market right now let's also welcome our guest now Shritish Mahajan CEO of Complete Circle
03:18is now joining in with a fresh take on the markets welcome to you Shritish good afternoon
03:22first up help us understand how are you looking at these renewed concerns around the geopolitical
03:28tensions between US and Iran seems like when everything was hunky-dory and markets were already
03:33penciling in a you know clear signs of recovery you know again comes in fresh round of strikes coming
03:41in between US and Iran and now the state of Hormuz is being controlled as well there is a question
03:47now being raised who is the true guardian of state of Hormuz what will happen going forward from here
03:52oil prices have spiked remember oil prices and the rupee are the concerning factors today 86 dollars
03:58per barrel for crude oil prices this is also putting the pressure on the rupee you know which is again
04:04crossed the 96 mark remember here Shritish that the last time we saw the 96 level being breached by the
04:10rupee amidst this West Asia war was only when the crude oil prices had hit already 110 and 120 dollars
04:17a barrel
04:17this time around the rupee has fallen beyond 96 when crude prices have just crossed 86 dollars a
04:23barrel what do you make of the current uncertainty well good afternoon Sakshi you know a couple of
04:28things which straight away comes to my mind and what we can make out from this escalation is
04:33till the time this escalation will not finally come to an end you know we'll keep on seeing these
04:39type of volatile days in the market if this will keep on lingering on we'll have a same situation which
04:44will happen in ukraine and russia market will discount we'll see a see upward trend going towards
04:51across global markets now what has happened you know what has happened in india scenario we have
04:57three things which are most important one is the currency second is your oil price and third is our
05:02FTA agreement with the US all three things right now whether currency oil price or FTA are not falling
05:09in right place SCNR is also not able to attract the type of volume which we were expecting as uh
05:16you know
05:16many of the leverage uh you know banks which are giving leverage uh and that would have been a very
05:22good
05:22uh you know trigger for accumulating dollars in india but that is also not been uh that remarkable what
05:28have been thought initially so i think i think uh to attract people on the equity side something on the
05:33taxation
05:33side has to be done uh second uh uh you know why currency is under pressure uh obvious reason uh
05:40you're
05:40right all prices were around 120 barrel uh dollar per barrel when we hit 96 mark but it never recovered
05:46in terms of the currency was around 94 and a half 94.6 94.7 these levels and then obviously
05:52uh there's a
05:52quantities outflow still from capital market which is there and not that type of inflow which is coming so
05:58what i can uh what we as a house feel that uh you know uh uh in a staggered way
06:04just keep on uh keep
06:05on putting your money in capital markets these are not the time to uh to become excited if you get
06:10some
06:10uh levels like these but yes we are very close uh uh to negotiation now uh when this will happen
06:17how
06:17this will happen i don't have idea but i can tell you one thing that uh all these dips uh
06:22will be one of the
06:23brighter days uh to invest or when you will speak about them uh one year one and a half years
06:27down the line
06:28so uh so uh so uh fta is also i think with india and us is still pending so there
06:33are a lot of things
06:34with regard to india which is much more uh concerning uh i think uh as a house we feel that
06:40uh something
06:41can be done on the equity accession side to attract uh to attract uh your uh uh fis and to
06:48give some
06:48benefit to the domestic participants also you must have seen the healthy numbers uh domestic
06:53participants are are participating in the same number of across 31 000 crore they are bullish
06:58about india as a country and a number of also has grown so i think something can be done on
07:03the
07:03taxation side sure yeah fbi is um you know looking at india in a bit but let's first look at
07:12the it space
07:13viewers despite the recent bounce that we have actually seen in the it pack there are concerns
07:18over growth that continue to remain as ai is transforming the technology landscape as a whole
07:23global it uh companies are grappling with again weak demand uh so the question is is the sector losing
07:30the kind of premium it held at one point in time here's what abhay agarwal the founder and fund
07:35manager at pipa serka had to say on business today i think the results that i have seen recently uh
07:44shellji not only of indian companies that have declared results but also international
07:48companies like accenture ibm cap gemini uh i think they are all struggling for growth you know
07:56there are still no growth drivers in fact what we keep reading about some of the other ai companies
08:03releasing tools uh that are able to replace it services uh i think it is scary i would say still
08:14so
08:15if you look at the recent commentary these are the companies on a constant currency basis that are
08:20struggling for a constant currency growth of two three percent also uh and there is no real uh plan i
08:28mean there is hope that they will be able to find some growth trigger but as investors we have to
08:34ask
08:34the hard question that is there is there really a plan is there really a growth a segment uh and
08:41there
08:42doesn't look like any so that is the reason uh shellji that i am still not bullish on this space
08:49i don't think that this is a growth space anymore i think at best it services companies will become
08:56system integrators we will they will stitch ai tools into some of complex problems that their
09:03enterprise customers want them to solve but then what will happen is that the margins will fall to
09:09about 15 percent at best or thereabouts and which also means that the p multiple will settle to
09:15around 15 times and these will be basically seen as non-innovative cash cow companies that have a
09:23high dividend rate or buyback rate so i think that's where they will end up my view is that they
09:29will be
09:29profitable they will probably not grow but they will generate cash and trade at about 15 times p multiple so
09:36i don't find personally anything exciting about these uh this sector there's a strong opinion
09:42coming in on the it pack shithij what's your take on the it stocks of course some of the earnings
09:47have
09:47already started to pour in this time uh much better off than what the last time around we had seen
09:52the
09:53earnings at least they are in line with the expectations and not too many negative surprises so
09:58far but uh you know a section of the market can continue to believe that they may not be offering
10:03the
10:03kind of growth story that initially we were supposed to look at uh it stocks with uh
10:10saki i uh i feel that businesses companies who can pivot fast and that will happen with mid cap and
10:18small cap it much faster than large cap ids uh will see remarkable growth and we can't uh it's like
10:25i can call them as dark horse in terms of uh the way they have been structured right now and
10:30the way
10:30people are writing them off you can't write them off just uh because they are not able to uh they
10:35they were leveraging on labor arbitrage for 30 40 years so i think uh with the type of capacity uh
10:42you know adoption which they have and that arbitrage will remain uh we all know that irrespective of
10:47ai uh what were expected from ai was that it will solve problems for one one ai engine will solve
10:52problems for four people the cost is getting really very high so what my what makes sense to us is
10:58that you
10:58know uh uh it's a great value buy uh in present time but you have one should do their doodle
11:03at
11:04their end but i see that the businesses which can pivot fast uh will have much more uh much more
11:10combat uh much much faster come back in terms of their share prices and in terms of their earning growth
11:15one last thing sakshi here many of these businesses are now working as back-end support to many of these
11:21ai and lm engines also so you know the type of workforce and at what price the workforce available
11:27in india uh is not available anywhere else so i think the way this will structure is like if you
11:32if you go back in 2000 1999 1999 to 2000 there was y2k new courses new softwares started coming in
11:40so
11:40similarly to adoption of all these tools uh you know you'll have a lot more things will happen where
11:46indian it company will have their own uh you know uh uh own size of uh profitable thing
11:55okay uh we'll come back to the markets but right now we'll focus on the energy space we also have
12:00a
12:00special guest joining in narendra taneja energy expert is with us welcome to you mr taneja and good to have
12:05you with us as always at a time when again the crude oil prices are coming back into focus uh
12:10we were
12:11looking at a happy 70 72 dollars a barrel and suddenly we are seeing uh you know more tensions
12:16in u.s and iran uh everybody is counting to uh find out who is the true guardian of state
12:22of hormos
12:23so give us your sense of how are you looking at crude oil at 86 dollars a barrel and how
12:29much more to
12:29go from here will we again test that 120 dollars a barrel this time well you see the good thing
12:36is
12:36the market has kind of response so far has been rather mature i would say because otherwise had
12:42they panned the prices would have already crossed 100 per barrel but markets have not simply because
12:47i think the the market's reading is that both the united states and iran they want to transit to some
12:54kind of peace some kind of agreement because the talks are still going on as we know while they're
12:58exchanging bombs and they're exchanging uh you know uh all kind of attacks but the fact is they are
13:06still talking so that's a positive sign however my own sense is that you know uh the united states
13:13may want peace to return or mou to be kind of transit to a peace accord uh in hurry but
13:20iran is in no
13:20hurry they are in no hurry they want to expect the maximum possible and they know it the united states
13:26is desperate to go out of this war situation for domestic reasons first of all the holiday season
13:31has started there and as you know american consumers hate expensive oil especially during
13:36the holiday season so they want cheap oil they will be most comfortable if the oil is down to 60
13:41dollar per barrel and that's what president trump watched at the same time president trump has also
13:45seen kind of the negative impact it can have on overall economy of the country particularly inflation and
13:51so therefore he is desperate and he uses the kind of language which iranians you know they don't like
13:57he's using very harsh language is the kind of language that civilization states like iran for that
14:03india we don't like such languages you know but he doesn't understand all these uh all these
14:08sensitivities so he keeps on saying that we'll destroy you will bomb you will don't
14:12bomb you to ashes stuff like that so it's not helping but the good thing is the negotiations are
14:16happening america is desperate iran also wants so mou made transit to to a peace accord but my senses
14:24is going to take much longer time than we all want maybe six months maybe one year and along the
14:29way
14:29we will see these kind of you know uh things happening bombs missiles attacks you know drones and so
14:37and so forth so i think markets have to get used to it we have to get used to it
14:41as for the state of
14:42homo persian gulf iran and america issue is concerned is going to take long time so sometime
14:48price may go even hundred dollar per barrel they may drop again to six seventy dollar per barrel
14:52because demand and supply actually doesn't justify even in the present price but we should be prepared
14:57this roller coaster these kind of things will continue for quite some time
15:04a roller coaster ride on oil prices can continue for some longer time as well
15:08but mr taneja on the supply side what is the scenario right now how do you gauge india's own
15:14supply uh concerns at this point in time are we better prepared than say in march um on two things
15:21one we are looking at already a lot of alternatives at this point in time so are we better prepared
15:27in
15:27that sense and two because of the last three months of consecutive action on the west asia front uh
15:32there is a lot of depleting of the inventories already taking place so how are you looking at the
15:37supply scenario so well the the two sides of the story first is global i mean the global supply
15:42ds there are you know areas of worry for instance because the 20 supply come from there and we saw
15:48that the you know this the last three weeks we saw that you know the contribution of gulf in the
15:55global
15:55supply has gone up to almost 17 percent from roughly 13 so that was very good news and markets started
16:01getting comfortable some in some pockets even complacent now the situation that again has begun
16:07to change you know tankers are not able to cross state of hormones but has come down to less than
16:1210
16:12a single digit so it's worrying at the same but there is no major disruption because russian oil is
16:17flowing into the global supply system venezuelan oil is flying iranian oil has more or less stopped so
16:23that's that particular area is worrying however as far as india is concerned since this 28th of february
16:29or the the crisis started we have been sourcing bulk of our oil from other geographies like latin
16:34america the united states and west africa and so and that is continued so as far as india is concerned
16:40we don't you know no major disruption area for yes when the prices go up it worries us because our
16:46issues not only supply price is a bigger issue number two lng issue is more or less the same lpg
16:51again
16:52price is issue shipping cost is issue insurance cost is an issue so as far as we are concerned there
16:57are
16:58still issues and when prices go up or the war continue or the mou does translate into peace
17:03accord i mean we remain very worried because we are one of the most vulnerable large economies in the
17:08world when it comes to oil lpg and lng right mr tanisha i also wanted to understand since this trait
17:18has
17:18become this explosive flashpoint between us and tehran with both sides claiming to control the waterway
17:25right now donald trump is talking about taking that 20 percent on all cargo ship shipped out of
17:30the strait of hormones what do you think the future lies for the world to really understand
17:35are we given to understand that there are clear indications that strait of hormones going forward
17:41is not going to be a freeway for everyone well that's a very good question you see the india and
17:47china
17:47the two largest importers as you know oil from that region we have india and china made very clear
17:53almost in one voice if not on the same page at the same time clear that we will not accept
17:58any kind
17:59of tolling in the state of hummus and iran has acknowledged at the highest level to both india and
18:04china then they are not going to talk so i think that's we we have to take it you know
18:09uh because these
18:11are important countries and at the same time the commitment is serious to market like they they all
18:16need us don't forget when it comes to oil demand india and china trying to drive the global demand for
18:20oil
18:20so they can't ignore us that simply that said however my own sense is that iran is using
18:27only as a kind of bargaining chip because the negotiations are going on they know it is an
18:31international waterways saudi arabia is not going to accept iraq is not going to accept you know qatar
18:36is not going to they know it very well they just want to basically using it as chip because they
18:40had no other option they have weaponized state of hummus and they are using it as a bargaining chip
18:45because america has many chips many things aircraft military power economic power what does iran have
18:50only state of hummus so they are using it to the help but my own senses they know it is
18:54for the
18:55bargaining once the mou transits into some kind of peace accord i think you know this is will go
19:01back as a kind of international waterways however iran for long time to come may continue to assert
19:05this is our charity which they have been doing by the way for very very long time
19:11okay i'll also ask you to decipher for our viewers uh what's the current situation and you talk about a
19:17roller coaster ride a lot of uncertainty and ups and downs to be seen in some time to come what
19:22does
19:22this scenario really mean for the oil and gas sector back home the oil marketing companies the downstream
19:27companies and the gas producers at large and also for consumers at large what does it mean does it mean
19:34prolonged state of higher inflation we've just had numbers come in yesterday both wp and cpi have
19:41indicated higher prices will there be a prolonged way of higher inflation on this account well that's
19:47a very interesting question you see the thing is that we have discovered now that beyond a point we
19:52can't depend on the persian gulf region for oil gas including lpg and lng so we have no option even
19:59if
19:59things cool down there and there's some kind of a god as part of india's energy security doctrine i think
20:04we should not depend on that region beyond the point to some extent yes but not beyond the point
20:09so therefore which means that you know we have to secure our oil supplies gas supply lpg supply from
20:14wherever we can right now it's roughly we are importing from 43 different countries i think so
20:19far it was an option most of our oil came from seven countries but i think you know going forward
20:24we
20:25will actually have to source more oil from america canada mexico brazil guiana angola nigeria and all
20:32those kind of places you know because as part of the energy security which means that actually shipping
20:36costs will go up insurance costs will go up and overall the supply you know the structure will
20:42go this piece is going to be more is going to be costless more however the supplies will be more
20:47secure than it is when we source bulk of our you know energy from the persian gulf area however you
20:53see
20:53there are good developments you know they are trying to build uh alternative routes so that you don't
20:58you bypass state of hormone but all those things are going to take maybe two to five years but along
21:03the
21:03way we have to prepare however what is important for us we can't actually say goodbye to uh you
21:08know our sourcing of oil gas from the persian gulf for two reasons number one is 10 million indians
21:13live and work there number two is they're strategically very important if we create the china will move in
21:18and will create massive problem for us geopolitically speaking number three is the region is one region
21:25which is kind of the center when it comes to the energy uh you know geopolitics it's a kind of
21:30the big game
21:31which is going on we can't opt out of it that's not the luxury we can afford there which means
21:35that
21:35we will continue to struggle will continue to stay put there at the same time even invest in country
21:40like iran however when it comes these kind of challenge let's not forget one thing oil is 90
21:45politics 90 geopolitics and oil is also 90 violence and turbulence we just have to get used to it
21:53okay fair point point dekin thank you so much mr taneja for giving us all of those insights we will
21:59of course keep speaking with you uh to draw more information from what exactly to understand from
22:05this uh developing scenario right here for all our viewers on india today and business today always a
22:10pleasure to have you with us to explain to us the scenario around oil prices and energy scenario as well
22:16let's look at the market implication as well the oil and gas sector is down by 0.6 percent a
22:21quick
22:21take with shithidh how would you play the oil and gas story are you completely staying away because
22:26of uh what is uh happening in the world on in the front of oil i think energy story uh
22:34whether you
22:35like it you hate it you can't ignore it you have to play it because whether you talk about data
22:40center
22:41you talk about ai you talk about uh ships moving in hormones or talk about war or any situation you
22:47need
22:47oil or let's say you need energy so it can be a renewable it can be a fossil fuel it
22:52can be anything
22:53so i think we have our portfolios we have almost 17 18 percent in energy only that includes your fossil
22:59fuel as well as you have uh you know renewables also so you can't ignore you have to play it
23:04okay
23:06you have to play it despite the fact that it might stay very volatile over the next six months to
23:11a year
23:11will you be continuing with this kind of an exposure that you have in clients portfolios
23:16yeah sure because uh you know these uh times you don't know whether it will take six months eight
23:21months nine months but once the news will come then you don't have time to actually invest you have to
23:25take the position now and moreover when you're investing into equities you have to invest by
23:30with a view of at least five year plus and these are the markets where india especially in indian
23:34equities you don't have much return for last one and a half years so i think i think you pay
23:38the bedside
23:39it take some mix of uh you know so let's say there is a theme of energy theme then you
23:45play
23:46the entire ecosystem of energy not only play oil or renewables uh or let's say solar power but you play
23:52various things also which are required whether it's chips are required or let's say uh uh
23:57let's say some transformers are required some uh uh you know uh rectifiers are required whatever is
24:04required you play the dash story all right we'll just quickly wind down the markets and come back
24:12to you for all the questions that our viewers have sent for you to answer them 24 035 we are
24:17down by
24:18now uh almost uh what 170 points in trade and you're looking at a 0.7 percent of a decline
24:25yet
24:25again we've seen further pressure coming in onto the markets now let's actually look at the nifty
24:31bank that's down by 1.1 again we've seen some pressure built up 680 points gone from the nifty
24:36bank today um let's also pull up the top losing indices we have autos down by 1.6 percent psu
24:43banks
24:43have dragged as well we've seen even the it stocks losing a tad bit about one percent odd in the
24:48session
24:49as well uh so those are the big drags coming in on the session psu banks down by 1.8
24:53percent a big
24:54drag on the banking space as well let's also pull up the top laggards in the nifty market uh today
25:00to give you a sense of which are the big nifty stocks that have actually taken it on the chin
25:05today so you can clearly see hcl tech down by 4.4 percent aftermath of the earnings you can see
25:11sriram finance 3.2 percent lower htfc live three percent lower uh you know these are the key stocks
25:17that are you know of course the top laggards geofinance m&m spi these are all the stocks that
25:23are dragging in the session today uh you however have some outliers like kalyan jewelers that continues
25:29its upward run 3.8 percent higher uh you have sg mart four and a half percent up wellspent cop
25:35is up
25:36by four percent uh those are the kind of stocks that have managed to pull up another a 19 higher
25:41for just style we've done a video yesterday on business today on this one too um so you can
25:45clearly see advances on the nifty nscr 924 vis-a-vis declines of 2182 that clearly shows on
25:51that how uh the weak breadth has been uh causing a lot of dent across the board today but let's
25:58see
25:58how the scenario was this is the expiry session that is of course turned out to be a weak expiry
26:04for the markets this week as well let's uh quickly look at some of the questions that are coming in
26:08now from our viewers uh first question is from sushmit from hopal he says uh it stocks are showing some
26:15early momentum uh should i invest in them or considering the bellwether's q1 earnings that
26:20are coming in what would you advise uh that's a clear question coming in on something that you when you
26:26talked about whether this is a clear case of value buying after these bellwether stocks have
26:31declined 30 40 even 50 percent from their all-time highs in many cases how would you view them
26:36so actually i think better route is take a fund route but i take a mutual fund which has a
26:41mix of
26:42it stocks as well as new business new age businesses also there are many uh many fun
26:47house which are offering that in in that you're not uh totally exposed uh in that allocation with
26:52regard to how the it sector will work but you have new age business exposure also so i think that's
26:58a
26:58better way of doing switchbit rather than you do individual stocks because that's that can be my
27:04view or some other expert view but you know eventually this is your heart and money and uh
27:08rather just uh uh you know we'll be going with what we are saying on screen it's good that you
27:13take
27:13a fund route and i totally believe that fund route will be a better play uh and it can be
27:18a
27:18contrarian view of on uh view on many of the people who are advising that the sector will not do
27:23well
27:23maybe five to six percent allocation through a fund route is is one fund which you can take and i'm
27:29i'm saying fund because yes uh if there will be no upside for sure there will be not much of
27:33downside
27:34which you can see next four five years time okay we also have karthik chatidaar from chennai asking
27:41you since crude oil prices are rising again should i look at omcs or aviation stocks for
27:47buying on the contrary side how would you look at that
27:52you know before me mr teneja was uh giving his view and i agree with him today you will see
27:57that it's around 86 tomorrow some news will come that these stock is around the corn you will see
28:01around at 70 this this is going to remain too too volatile so uh you know just don't go with
28:06uh
28:07on a daily basis what is happening go with a secular story let's say if you have a view on
28:11aviation to do well in india do pick a aviation stock for at least keep that for four five years
28:16that's what the view uh which you should hold your equity allocation for if you don't have a view
28:21then rather than going for stocks it's better you take a managed portfolio that's one should do
28:25for all the stocks also have the same uh you know uh same answer that rather than just buying
28:31only oil buy energy basket for yourself maybe uh uh maybe a solar something in solar energy
28:36something or something to do with solar energy buy the entire ecosystem what all things are required
28:41for overall energy system so that your dependency is not only with how the oil prices will move but
28:45overall ecosystem of energy because come what may you need data centers ai whatever you want to do we
28:51need energy so i think that's the right way of looking at it okay right uh thanks uh uh you
28:58know
28:58shitish for that we have a breaking news coming in viewers this is respect to the tax collection now the
29:03net direct tax collection has seen a jump of 16 and a half percent it's coming at 6.51 lakh
29:10crores
29:11remember it's the corporate tax mop-up that is searched by 22 percent now a 2.4 uh lacrod amount
29:18is being seen on that front but uh personal and non-corporate tax has also grown 12 percent uh to
29:253.84
29:26lacros that's coming in as a strong jump as well uh tax refunds have uh gone to uh you know
29:33a tax
29:33pairs of about 1.22 lacros this has been issued so far also this is up 14 and a half
29:40percent vis-a-vis
29:41last year we're also looking at the government aiming to collect budgeted 26.97 lacros in direct
29:48taxes as well so that's a big breaking news coming in viewers positive in terms of tax collection both
29:55corporate as well as non-corporate retail as well as far as tax collections are concerned another
30:00breaking news is in fact coming in from the rupee rupee has fallen 58 pesa against the dollar it's
30:06closed at 96.2 against the dollar this is the lowest level for the rupees since may 25 that you
30:13are
30:13seeing at this point in time once again the markets are staring at a lot of uncertainty higher crude
30:20prices weaker rupee and the markets also under pressure let's see how the scenario really develops
30:26because this clear is coming on from the west asia tensions again brewing uh you know to the brim as
30:33well with that viewers we are here to wrap up the business today's show but in case you have any
30:38questions about your stock investments your mutual fund queries talks or gold related questions then
30:44send them to us on the whatsapp number that's flashing on your screens we'll be happy to get top
30:49market experts to guide you on your queries on the program with that it's a wrap many thanks for tuning
30:54in
30:54on india today