Sensex, Nifty Open Higher as Rupee Slips 9 Paise to 94.42
Indian stock markets opened higher on Monday, with the Sensex gaining 0.51 per cent to 77,190.36 and the Nifty 50 rising 0.5 per cent to 24,129. All 16 major sectoral indices opened in positive territory, while small-cap and mid-cap stocks advanced by 0.5 per cent and 0.4 per cent, respectively.
The rupee, however, weakened by 9 paise to 94.42 against the US dollar in early trade. Despite softer crude oil prices lending support to emerging market currencies, the rupee came under pressure as markets monitored developments in US-Iran talks underway in Switzerland.
Last week, the rupee had gained 0.8 per cent to close at 94.32 against the dollar, touching a multi-month high of 94.18. It recovered from a record low of nearly 97 last month and has now risen for six consecutive sessions. The ongoing negotiations between the US and Iran are being closely watched by investors for their potential impact on global oil prices and geopolitical stability.
The opening gains in equities follow positive global cues, with progress in US-Iran talks contributing to investor sentiment. Market participants will continue to track the outcome of the negotiations and any further cues from global central banks.
