US-Iran Conflict, Oil Rally, Modi-Putin Talks, NSE IPO & More - The Week That Was
The week starting on September 7 remained highly volatile for markets with a mix of global uncertainty, rising oil prices and expectations of interest rates hike by US Federal Reserve, while corporate India saw several important developments. Here are few top stories from this week - US-Iran Conflict Tensions between US and Iran escalated again this week following a brief pause as US Central Command (CENTCOM) reported that the American forces attacked five Iranian oil tankers in the Gulf of Oman and near Kharg Island. Iran responded by launching ballistic missiles at a US base in Jordan and targeted multiple commercial and military vessels near the Strait of Hormuz. Oil Prices Cross $100 Oil prices rose over $100 a barrel this week, for the first time in nearly four months, even hitting $109 before retreating on Friday. Crude prices are track for a weekly gain of around 8% to 9%. Following this surge, benchmark indices such as Sensex and Nifty fell, posting consecutive ...