Rupee rises 10 paise to 95.60 against US dollar, Nifty opens around 23,900 in early trade
Brent crude hovered near $99 per barrel, while Asian markets traded higher, with Japan’s Nikkei touching a record high amid optimism around artificial intelligence-driven growth.
GIFT Nifty futures were trading at 23,890.5 The rupee slipped 8 paise to 95.78 against US dollar in early trade on Wednesday on elevated crude oil prices as fresh US strikes dampened optimism for an imminent US-Iran peace deal.
Forex traders said escalating US-Iran conflict is again boosting safe-haven demand for the dollar.
On the domestic equity market front, Sensex climbed 127.83 points to 76,137.53 in early trade, while the Nifty was up 36.45 points to 23,950.15.
Foreign institutional investors offloaded equities worth Rs 2,407.87 crore on Tuesday, according to exchange data.
Moreover, Brent oil remained well bid at USD 98 levels as risk aversion, geopolitical risk and war clouds in West Asia kept it higher.
At the interbank foreign exchange market, the rupee opened on a positive note at 95.60, but soon pared the gains and fell to 95.78 against the American currency, registering a fall of 8 paise from its previous close.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.09, down 0.07 per cent.
Brent crude, the global oil benchmark, was trading down 1.50 per cent at USD 98.09 per barrel in futures trade after reports that the US had carried out fresh attacks against Iran, offsetting hopes of a deal to reopen the Strait of Hormuz.
Share
