Indian stock markets (Sensex and Nifty) started on a positive note on Wednesday with Sensex rising 240 points and rupee regaining 27 paise against the US dollar. The wider share indicator NSE Nifty 50 retook the 11,300 mark following the uptick in shares of ITC, RIL, Infosys and HDFC Bank on Wednesday morning. According to the Bloomberg data, the Indian rupee added as much as 27 paise to open at 72.6987 per unit US dollar at the foreign exchange market.
Indian equities began higher on Wednesday tracking the regional Asian peers which rose in the early trading on the back of upbeat Wall Street, lower crude oil prices and the sharp recovery in Indian rupee. Asian stocks rose and US Treasury yields hovered near four-month highs on Wednesday, as investors looked past the latest escalation in the US-China trade conflict, seen by some market participants as less severe than expected, a Reuters report said.
Earlier yesterday, Wall Street rebounded in a broad-based rally as investors brushed aside intensifying trade rhetoric between the United States and China with all three major US indexes closing higher following Monday's sell-off. The Dow Jones Industrial Average rose 184.84 points, or 0.71% to 26,246.96, the S&P 500 gained 15.51 points, or 0.54% to 2,904.31 and the Nasdaq Composite added 60.32 points, or 0.76% to 7,956.11.
Source: financialexpress.com