The Indian headline indices hit respective record highs on Monday as NSE Nifty crossed the earlier level of 12,041.2, while BSE Sensex went past 40,125 level. Both indices are trading higher on Monday on the back of expectations that the Reserve Bank of India or RBI would cut interest rates after the weak GDP data for the fourth quarter of FY 19. Earlier today, while Sensex crossed 40,000 mark, Nifty traded above the level of 12,000. On BSE, auto shares are leading with Hero MotoCorp shares trading higher by more than 5.24 per cent. Other gainers are Bajaj Auto, Asian Paints and Tata Steel. Most of the shares are in green except L&T, ONGC and ITC which are among the top losers on BSE.
Crude oil prices eased on Monday. The international benchmark for crude Brent fell more than 1 per cent today, extending losses from Friday amid the trade war between the world’s two largest economies- the US and China. The fresh threats by the US President to impose tariffs on Mexico has triggered further global slowdown fears. While the Brent crude is trading at $61.34 per barrel, the US WTI is also 0.71 per cent down at $53.12 per barrel.