FPIs squeeze market for a sixth day; Sensex ends 639 points lower

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FPIs squeeze market for a sixth day; Sensex ends 639 points lower - Business Standard

Quick Summary:

Crude oil prices have been rising continuously for the past seven days as investors assess whether Israel will attack Iran’s oil trading facilities and whether the conflict will lead to the blocking of the Strait of Hormuz.

The payroll report eased concerns that the labour market is deteriorating in the US; however, it dashed hopes for sizeable rate cuts.

Nonfarm payrolls in the US rose by 254,000, the most in six months, while the unemployment rate fell to 4.1 per cent, and hourly wages increased.