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Daily Market Strategy – Oil’s not well! Sensex, Nifty set to lose value
Weak oil prices is very good for India one may argue but for the moment the market will not factor that as it adjusts with global sentiment. The S&P 500, Nasdaq and Dow were all down 0.7%. Asian markets are witnessing a sea of red with Nikkei down over a percent while China's Shanghai has dropped over 1.5%. Hong Kong's Hang Seng has lost nearly 2% while South Korea's Kospi has shed half a percent.