Equity

The Indian rupee is witnessing a pullback from sharp decline registered this week in opening trades on Thursday as oil prices are receding to near pre war levels and by taking some positive cues from local equities. INR opened at Rs 94.30 and hit a high of 94.25 far during the day. Yesterday, rupee appreciated by 11 paise to settle at 94.65 against the US dollar on Wednesday on the back of a steep fall in global crude oil prices. Positive sentiments in the domestic equity markets and FII inflows further supported the local unit. Indian shares rose sharply on Wednesday amid easing geopolitical tensions and growing optimism around a potential U.S.-India bilateral trade agreement. Global oil prices fell to their lowest level in four months amid indications that more tankers stranded in the Gulf since the start of the Iran war were beginning to move through the Strait of Hormuz. However, dollar strength overseas on expectation of a near term rate hike is likely to cap any sharp gains in the counter.

Powered by Capital Market - Live News