Stock Market Live: Indian equity benchmark Sensex and Nifty opened higher on global cues. BSE Sensex opened 400.48 points, or 0.54 per cent higher at 74,049.10 while Nifty inched 110.60, or 0.60 per cent higher at 22,447.00. GIFT Nifty is trading at a premium of 16 points at 22,401 at the time of opening bell, a decline after rising as much as 65 points.
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The Indian rupee opened little changed at 83.86 against US dollar on expectations that importers will take advantage of the mini recovery and bets that US Fed rate cuts are not imminent.
Non-deliverable forwards indicate the rupee will open broadly unchanged from 83.3625 in the previous session.
International crude oil prices remain stable after falling in the previous session, as investors continued to assess the risk from geopolitical concerns in the Middle East. The stability in prices stems from the Iranian Foreign Minister’s statement that Tehran doesn’t seek further escalation of tension with Israel.
“As long as there is no new adventurism by Israel against our interests, then we are not going to have any new reactions,” Amirabdollahian said to US-based NBC news.
Global benchmark Brent crude oil futures traded 4 cents higher at $87.34 a barrel while US West Texas Intermediate (WTI) crude futures also gained 4 cents to $82.22 a barrel.
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