Crude oil prices and stocks market have moved hand-in-hand over the past one decade and the trend is no different this time around.
Despite a rise in the global oil prices, the correlation between crude and the Nifty have always been positive and has stayed true this time as well. Meaning, whenever crude surges, the Nifty rises too. The two have been in a positive correlation for the last 20 years.
Here's how the two have been in a close alignment over the years:
Have you signed up for Primo, our daily newsletter? It has all the stories and data on the market, business, economy and tech that you need to know.