Both the benchmark indices, S&P CNX Nifty and 30-scrip BSE Sensex, remained volatile in the past one year. However, there has been a pullback since December. The benchmark indices have gained significantly, up 19 per cent on the back of the Greek bailout and strong FII inflows, of over $8 billion, in the current calendar year. (Click for graphic)
Crude oil prices are back at $125 a barrel after being range-bound, at around $100, due to the economic crises in the US and Europe. It is expected to go through tough times, as spare capacity heads towards zero. Prices look set to test the resilience of the global economy, as Iran, the world’s third-largest oil exporter in 2010, is struggling to find buyers and shippers due to sanctions.
The global crisis has had a significant impact on commodity prices, which is reflected in the MCX Agri index, up 30 in the last one year. Metal prices were more or less steady due to subdued industrial growth. So, the MCX Metal index rose 10 per cent since the last Budget. The total value of trading in the commodity futures market rose 45 per cent from Rs 119 lakh crore in FY11 to Rs 173 lakh crore in FY12.
