Oil Prices Up In July By 16 Percent; Highest Since Jan 22

Image Courtesy: IANS

New Delhi: The oil market witnessed a significant surge in prices by 16 percent in July, the highest since January 2022, as per a report by Motilal Oswal Asset Management Company. Silver and gold prices also rose by 8 percent and 3 percent, respectively. 

The crypto market was an exception to the green wave, as Bitcoin & Ethereum fell by 4 percent, followed by the collapse of FTX, one of the largest global cryptocurrency exchanges. ()

Both emerging and developed markets delivered positive performance, with South Africa emerging as a standout performer, surging by an impressive 13 percent. Within the US market, the NASDAQ 100 and S&P 500 indices recorded gains of 4 percent & 3 percent, respectively. ()

IT sector dominated S&P 500's gains, the report said. Nifty Smallcap 250 outperformed all major indexes clocked gain of 7.69 percent, followed by Nifty Midcap 150 at 5.51 percent.

Realty, Metals & Energy led the charge, rising 9 percent each. On the flip side, IT lagged with a modest 1 percent rise, the report said. All sectors, excluding the Diversified sector, contributed positively to the NIFTY 500 returns, with the financial services sector making the most substantial impact.