Indian share markets continued to trade on a positive note during closing hours of trade and ended the day on a strong note. Gains were largely seen in the realty sector and FMCG sector.

At the closing bell, the BSE Sensex stood higher by 317 points (up 0.9%) and the NSE Nifty closed higher by 81 points (up 0.8%). The BSE Mid Cap index ended the day up by 0.3%, while the BSE Small Cap index ended the day up by 0.4%.

Asian stock markets finished on a positive note as of the most recent closing prices. The Hang Seng stood up by 0.7% and the Nikkei was trading up by 0.6%. The Shanghai Composite stood higher by 0.9%.

European markets were trading on a mixed note. The FTSE 100 was up by 0.27%. The DAX was down by 0.02% while the CAC 40 was up by 0.01%.

The rupee was trading at 71.56 to the US$ at the time of writing.

From the commodity space, crude oil was witnessing buying interest today as traders expected top exporter Saudi Arabia to push OPEC to cut supply towards the end of the year.

Note that OPEC’s de-facto leader Saudi Arabia wants the cartel and its allies to cut output by about 1.4 million barrels per day (bpd), around 1.5% of global supply.

However, while OPEC is considering withholding supply, US crude oil production reached another record high last week at 11.7 million barrels per day (bpd), according to U.S. Energy Information Administration (EIA). So, this, on the other hand, is helping cap the sharp rise in crude oil prices.

Speaking of crude oil, India’s crude oil production was lower by 4.2% in September 2018 as compared to last year.

The worrying factor is this was the lowest production this year.

It would be interesting to see how this pans out. Meanwhile, we will keep you updated on all the developments from this space.

From the banking space, Yes Bank share price was in focus today as a search panel entrusted with finding Rana Kapoor’s successor to lead YES Bank has shortlisted multiple names. As per the news, the names include those serving foreign as well as domestic lenders.