Oil prices rallied nearly 3% to their highest in three months on Friday as traders braced for supply disruptions from the broadest U.S. sanctions package targeting Russian oil and gas revenue. Brent crude futures settled at $79.76 a barrel, up $2.84, or 3.7%, after crossing $80 a barrel for the first time since Oct.7. U.S. WTI crude futures rose $2.65, or 3.6%, to settle at $76.57 per barrel.
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China's Evergrande Property Services Group said on Friday a Guangzhou city court has ordered its parent China Evergrande to repay pledge guarantees on deposit certificates totalling 13.4 billion yuan ($1.83 billion). Evergrande Property began legal proceedings against its indebted parent early last year for using its deposits as collateral for pledge guarantees.
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Small-cap stock below ₹50: Shares of Sudarshan Pharma Industries Ltd will be in focus on Monday when trading activity begins at 9:15 AM. The small-cap stock priced below ₹50 is one of the multibagger stocks that the Indian stock market has delivered in one year. This multibagger stock has declared the issuance of preferential shares worth up to ₹188.34 crore.
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