Rupee gains 17 paise to open at 82.40 against the US dollar
inflation data due on Wednesday. On Monday, rupee snapped four-day losing streak to end at 82.57 a dollar. Comments from US Federal Reserve officials that additional interest rate hikes were needed, also indicated the end to the US central bank's current monetary policy tightening cycle is getting close, Reuters reported.
Meanwhile, crude oil prices rose after Chinese measures to aid its property market improved the demand outlook. Brent futures rose 0.50% to $78.08 a barrel, while US West Texas Intermediate (WTI) crude gained 0.55% to $73.39 a barrel.
On the domestic front, the Indian benchmark equity indices, Sensex and Nifty were trading higher in the pre-opening session. On Monday, the Foreign institutional investors (FIIs) net bought Indian shares worth ₹588.48 crore, while Domestic Institutional Investors (DIIs) net purchased shares to the tune of ₹288.38 crore, as per provisional data available on the exchanges Catch Live Market Updates hereGet the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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