Global oil prices hit a one-month high on news of an unplanned supply outage in the UK Buzzard oilfield in the North Sea. United Kingdom's North Sea feeds into an international benchmark price, and outage there drove prices for Brent crude futures up 0.5%. The benchmark prices are at their highest levels since March 8. Buzzard produces about 180,000 barrels per day.

OPEC has been attempting to rein in oil price declines by cutting production. Shipped oil supplies have fallen by as much as 17 percent this year, according to oil analysis firm Vortexa. However, any price upside is likely limited according to analysts, with production from US, Russia and Canada rising. 

The Indian IT industry will no longer be able to rely on the outsourcing model that over the last two decades delivered double digit growth and made many employees millionaires. The US curbs on H1B visas - with more likely forthcoming - are only the latest in immigration restrictions, both in Western markets like the UK and Asian markets like Singapore. Infosys, Wipro, TCS and others have lobbied the US government against the visa tightening efforts, but it looks like these are here to stay, with both Democratic and Republican senators backing such legislation.  

Stock in spotlight: Kotak Mahindra Bank (KMB) which in a board meeting held on 30 March 2017, approved the sale of up to 62 million equity shares. This translates to 3.4% pre-issue dilution. KMB's share price has been trending sharply up, and analysts at Motilal Oswal are bullish on the stock, pegging a target share price for KMB at Rs. 1,015.

Photo of the day: A rhino charges at a forestry team after being released into the Chitwan National Park in Nepal. Prakash Mathema/AFP/Getty Images