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Crude oil prices surged over 2% as supply concerns intensified with the Strait of Hormuz largely shut. European allies declined U.S. calls to escort tankers, prompting President Trump's criticism. The UAE has halved production due to the disruption, raising fears of shortages and inflation. Experts predict further price hikes if tensions persist.
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In the Nifty500 pack, eight stocks' closing prices crossed above their 200 DMA (Daily Moving Averages) on March 16, 2026, according to stockedge.com's technical scan data. The 200-day daily moving average (DMA) is used by traders as a key indicator for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily timeframe, it is generally considered to be in an overall uptrend. Take a look:
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News and Media
Oil prices surged over 2% as the Strait of Hormuz faces significant disruption due to the ongoing U.S.-Israeli war on Iran. Allies have rebuffed calls to escort tankers, raising supply shortage concerns. The UAE has already reduced production, and some banks have revised longer-term price forecasts upwards.
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News and Media
Asian equities opened higher, mirroring Wall Street's optimism that more tankers could navigate the Strait of Hormuz. Despite a rebound in Brent crude, concerns over potential supply disruptions and inflation persist as central banks prepare for key meetings this week.
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Indian equities are at a market midnight, facing mixed signals after an 18-month sell-off. While some see buying opportunities, valuations remain elevated, suggesting caution. Geopolitical tensions and AI disruptions overshadow deeper concerns, making aggressive buying difficult but a full exit unwarranted.
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News and Media