Investor’s
sentiment approved with riskier assets as
Asian stocks rose across the board on
Thursday as crude oil extended gains
on hopes that big producers will cap output.
Crude oil remained the main market driver. U.S. crude was up 2.1 percent at $31.34 a barrel
following a 7 percent jump on Wednesday after Iran voiced support for a
Russia-Saudi-led move to freeze production to deal with the market glut that
had pushed prices to 12-year lows.
Shanghai stocks rose 0.6 percent, in muted reaction to data
showing China's January consumer inflation quickening to 1.8 percent from the
previous year.
Indian market also responded positive for two consecutive days
with Nifty gaining more than 80 points today.
All eyes will now remain on Indian budget session and Fed’s
rate hike under tough global market conditions.
Source : Investing
